Forex news for Asia trading
for Friday 27
November 2020
USD/JPY lost ground during the
session here and as I post is making fresh lows for the day under
104. There was no specific catalyst visible apart from selling flows
into month end. Other currencies have been pretty much flat against
the USD (minor chop only) but have just seen some buying (USD
selling) in the hour or so to take currencies net up on the day. The
rise in the Australian dollar came despite a further worsening of the
coal ban from China and fresh imposts on Australian wine (see bullets
above).
The
data of note was out of China, October industrial profits surged and
have taken the YTD figure into the positive (after a bad pandemic-hit
year of course).
This article was originally published by Forexlive.com. Read the original article here.