ForexLive Asia FX news wrap: Gold up a little more.

News

Forex news for Asia trading
Wednesday 5
August 2020 

After leaping above $2,000
during US trade gold carried on higher to touch above $2,030 before
losing some steam. On the currency board, NZD was a gainer after a
strong beat on the most recently reported headline unemployment rate.
Further details in the jobs report were not as encouraging but the
headline of 4.0%
unemployment (yes, really) was enough to hold NZD/USD fairly steady
around its highs for the session circa 0.6640.

AUD/USD
managed to gain some points alongside the stronger kiwi despite
another surge in coronavirus cases in its second largest city (to a
double record high day of +725 newly confirmed
infections and +15 deaths) and
another internal border closure; northeastern state Queensland will
shut down its border
to Australia’s largest state
of New South Wales from
Saturday.

EUR,
GBP, yen and CHF all found a small bid also against the US dollar on
the session here. Early
in session comments from Trump that the jobs number would be ‘big’
did currencies no harm although moves were not large.

The
early days of the month are data-heavy but apart from the NZ jobs
report other data did not have much FX-moving impact on the session.
There was progress reported out of the US on coronavirus economic
relief package negotiations, albeit tentative.

As
I post the latest from the Wall Street Journal on another COVID-19
treatment showing positive signs is giving currencies a further
little lift against the USD). 

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