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ForexLive Asia-Pacific FX news wrap: Major FX tracks sideways awaiting US election clarity

Started by forex4you, Nov 09, 2022, 11:50 am

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ForexLive Asia-Pacific FX news wrap: Major FX tracks sideways awaiting US election clarity

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We
have had dribbles of results come in from the US mid-term elections
but nothing conclusive as yet. It appears that majority control in
the House is on track to switch to the Republican Party but the
Senate is less clear. Indeed, prediction markets are currently in
favour of the Democrats holding control of the Senate.
</p><p class="western">Major
FX rates are little changed against the US dollar for the session
after some minor swings.
</p><p class="western">The
other item of interest in the time zone here today was the data from
China for inflation in October. Consumer prices rose, but not as much
as expected, while 'wholesale' inflation (PPI) fell, again not as
much as expected. While on China, the People's Bank of China set
the onshore yuan at a weaker level than was estimated. There was also
news of enhanced support for the troubled property sector. This gave
stock markets a lift, property-related stocks outperforming.
</p><p class="western">USD/CNH
is little changed after all the China news and data:</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: ForexLive Asia-Pacific FX news wrap: Major FX tracks sideways awaiting US election clarity

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