Forex news for Asia trading
Thursday 17 September 2020
Losses for currencies pretty
much across the board with flows into the US dollar continuing here
in Asia. US stock index futures lost ground with the risk-off
sentiment. The People’s Bank of China were not to be outdone, after
the nearly 400 point revaluation for the CNY against the USD on
Wednesday the Bank did it again to the tune of 150 points this time.
For the session overall
though yuan has lost ground against that strong USD.
News flow was slow but there
was plenty of data.
Zealand Q2 GDP came in slightly better than forecast (that is the
deep, deep contraction in activity was -12.2%
instead of -12.5% expected). At the time of release the NZ dollar
barely responded but it has dropped on the day as the USD gained.
reported its August job numbers, these were a stunning beat; a huge
111K gain for headline
employment and a 6.8% unemployment rate (vs. 7.7% expected). AUD/USD
popped 35 or so points back to session highs (it had lost ground
earlier) but soon lost all of that gain as US dollar buyers once again
Offshore yuan down also (USD/CNH up) – hourly candles: