ForexLive Americas FX news wrap: The gentle turning point continues

Author: Adam Button | Category: News

Forex news for Asia-Pacific trading on November 5, 2019:

Markets:

  • Gold down $3.50 to $1506
  • Nikkei 225 up 2.0% in return from holiday
  • AUD leads, JPY lags
The RBA helped to lift the Australian dollar by signaling that its comfortable with rates here and that the 'gentle turning point' in the economy continues. AUD/USD was at 0.6880 before the announcement and rose to 0.6900 afterwards.

Yen crosses got a lift from reports on China-US talks saying that Beijing is pushing to get Sept 1 tariffs removed and that he US is debating it. I see this more as a squeeze from China than unequivocally good news but the market likes it as it pushed USD/JPY to 108.75 from 108.60. It was the same thing in all yen crosses, including a 35 pips rally in AUD/JPY.

Cable continues to bounced along the 1.2880 bottom hit late in the US session and didn't show any signs of life with no headlines to account for.

ER/USD briefly fell to 1.1113 in a quick move lower but rebounded to essentially unchanged at 1.1125.
Forex news for Asia-Pacific trading on November 5, 2019:
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