USD/JPY climbs from three-week trough

USD/JPY tilted higher in Asian trade off October 2 lows amid a lack of data from Japan and ahead of US data and Fed speeches today. 

 

As of 06:50 GMT, USD/JPY rose 0.09% to 105.53, with the highest since October 13 at 105.62. 

 

From the US, building permits are expected up to 1.52 million units in September, while Housing Starts are expected up to 1.45 million units. 

 

New York Fed Governor John Williams will talk today in a series of web seminars, with similar speeches other Fed officials on financial stability. 

 

Democrats and Republicans remain in a tug of war over Covid relief, with the World Health Organization reporting 39.95 million global coronavirus cases so far, with the death toll standing at 1.11 million.


Attached Files:

Posted By laraparker : 20 October, 2020
Related Article

Euro rose on Monday against dollar after a hiatus from gains yesterday, nearing week highs as sentiment brightens with US President Donald Trump's health improving.    EUR/USD rose 0.3% to 1.1745, after closing down 0.25% on Friday on profit taking away from week highs at 1.1769.   The common currency rose 0.7% last week against dollar following developments in US new stimulus plans.    The dollar index fell 0.1% on Monday after a hiatus from losses on Friday with haven demand declining on the greenback.    The medical team handling Trump's case said his condition is improving and he might exit the hospital on Monday.    Trump's announcement of a Covid 19 infection shocked the markets, with Trump now transferred to a medical center to monitor his condition.

EUR/USD rose for another session while still on track for weekly losses on US political uncertainty over the presidential elections and ahead of European GDP data.   EUR/USD rose 0.1% to 1.1817, after rising 0.2% yesterday on improving risk appetite after news on an effective Covid 19 vaccine.    Euro is down 0.5% this week against dollar on track for another weekly loss as haven demand ramps up on dollar.    President Donald Trump has refused to concede the election to his opponent Joe Biden, raising worries about the path of transition.   From Europe, GDP growth is expected at 12.7% in the third quarter of the year after tumbling 12.1% in the second quarter.

The US dollar fell against most its major peers on Tuesday, amid focus on the US presidential debate.   The market is focusing on the first US presidential debate between President Donald Trump and Democrat candidate Joe Biden.   Analysts expect a bearish market for the US dollar due to the US elections, in addition to more volatility in most market movements.   Trump approval ratings in latest polls have declined, while his challenger Joe Biden holding on to a lead over him, but Trump's campaign claimed the polls are "fake".   The market is also anticipating the monthly jobs data and the final Q2 GDP reading later this week.   The dollar index fell against a basket of currencies by 0.4% to 93.9 points as of 19:48 GMT, after it hit a high of 94.3 and a low of 93.8.


Post your comment