Forex news for Asia trading
for Tuesday
29
December 2020
The Lower House of the US
Congress passed the bill to provide COVID-19 relief checks to
Americans of $2,000. Last week Trump called the $600 checks a ‘disgrace’
and called for a boost to $2,000 and the Democrat-controlled House of
Representatives have delivered.
The bill now heads to the Upper
House, the Senate, which convenes on Tuesday US time. So far Leader
of the Senate McConnell has not indicated he will bring the bill on
for a vote. Democrat Senators have expressed support for the bill,
Senator Sanders says he will take measures to stop the chamber from
adjourning for the New Year’s holiday break until a vote on the bill
is allowed. Current
indications are however that Republicans in the Senate do not support
the increased amount. While the bill seems doomed to fail in the
Senate nothing is certain at this stage. Tune in on Tuesday for how this
plays out.
FX
markets seem to have responded with optimism, the USD is a little
lower pretty much across the board; EUR, AUD, NZD, CAD, CHF, GBP are
all up against the dollar while yen is a bit of a laggard. Equities,
too, have been bid, US equity index futures overnight trade has once
again tracked higher. Gold is up small.
There
was little other news and no data at all relevant to the majors.
Regional
markets:
- Nikkei
+1.63%
(to its highest since
August 1990) - Hang
Seng +0.87% - Shanghai
+0.08%