Forex news for trading in Asia Thursday August 27, 2020
Morning trade in Asia saw stronger movement for (most) currencies as the USD slipped a bit more after its overnight losses. Currencies hit new highs against this overnight trade but most changed little on the session as I update.
The beaches weren’t great.
There was a wide spread of news, but given the ranges not too much of an impact. Protests continued in Minneapolis, Hurricane Laura continued to strengthen in the Gulf, and the third night of the Republican convention began. The emergency use approval for Abbott’s $ 5, 15-minute COVID-19 test, which may very well have the potential to hasten the return to more normal life for many people, and with the economic benefits that this will bring (see points above)). This won’t happen overnight, of course. The news was greeted with a bit more currency bidding but, as I said, most of it went on after that. Gold fell a few dollars on the session.
The data ledger was light, but we got data on Australian investments for the second quarter. It is not surprising that actual and planned business investment has been and will be reduced. The title was not as poor as expected.
Stay tuned for the upcoming Federal Reserve Symposium, Fed Chairman Powell will speak at 1:10 p.m. GMT on Thursday.