ForexLive Asia FX news wrap: USD loses some ground
Forex news for Asia trading
session of slow and little-impactful news in Asia but nevertheless
movement for currencies against the USD. Currencies are broadly
stronger, although ranges are not large.
Impeachment proceedings against Trump are bubbling away still - Pelosi to send articles to the Seanate ‘soon’
House Leader Pelosi says she will be sending the articles of
impeachment against Trum p to the Senate soon, 'when ready'.
Dunno how much, if anything at all, impact this will have on financial markets Once DJT departs. Even the first impeachment was water off a duck's back.
Chinese state media says President Xi wants further high-speed rail development
China has been increasingly supportive of infrastructure development in the wake of the virus crisis.
Further signs from this info in Xinhua.
Meanwhile, AUD/USD is at a key (short-term level) testing recent highs circa 1.7720-ish:
Cina's foreign ministry says it strongly opposes US statements on Xinjiang
There was broad condemnation from a range of US officials across the political spectrum on China's policies in the region.
China says it strongly opposes the US statements, says its interference in China's internal affairs.
Bank of England Governor Bailey speaking Wednesday, 1700GMT
Its a busy session coming up in the UK with inflation data for December at 0700 GMT
Uk inflation has been low, like many other countries of course. Leading into December there should have been some upward price pressure as the impact of the consumption tax cut and falling prices of energy filter out of the
US President Inauguration timings for Wednesday 20 January 2021
If you are planning on taking in proceedings, the timings:
- 11.15am Washingtom time (1615GMT) .. the inauguration ceremony begins
- 11.30am (1630GMT) Kamala Harris will be sworn in as Vice President
Is Biden that much taller than Harris or have they done the Tom Cruise thing here?
Volkswagen says expects car market sales in China to exceed 2019 levels
The company says it forecasts its own sales will see substantial growth.
I noted on the China GDP release (for Q4 2020) the disparity between industrial growth and a weak consumer. This is a challenge for retailers, even of cars.
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