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25 Mar 2020

US Dept. of Commerce extends public comment period for input on Huawei temporary general license extensions

During the early Thursday morning in Asia, late-Wednesday night in the US, the Department of Commerce Bureau of Industry and Security (BIS) announced stretched the public comment period on Huawei temporary general license extensions.

Key quotes

The Department of Commerce Bureau of Industry and Security (BIS) announced an extension of the public comment period on Huawei Temporary General License Extensions through April 22, 2020. 

The BIS is seeking input on the continuing need for, and scope of, possible future extensions of the Temporary General License (TGL) for Huawei Technologies Co. Ltd. and its non-U.S. affiliates on the Entity List. 

The Department has received requests from industry to allow for additional comments, and is granting this request in support of robust consideration of future extensions of the TGL.

Earlier this month, the Department extended the TGL through May 15, 2020.  That date remains in place.

FX implications

While the news is considered to be a trade-positive one, the market’s present concentration on the coronavirus (COVID-19) and aid packages dimmed traders’ reaction to the announcement.

Mar 25, 2020

US Dollar Index Asia Price Forecast: DXY retracement down extends below the101.00  figure

DXY is consolidating down for the fourth consecutive day after an above-average spike to the upside. The pullback down exceeded the 23.6% Fibonacci level from
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Mar 25, 2020

AUD/USD: Range bound below 0.6000 amid mixed sentiment

AUD/USD has been trading in a small range between 0.5980 and 0.5950, currently around 0.5955, since the last few hours to the start of Thursday’s Asia
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