Ashby has been a key member of Michael Duff’s team since arriving on loan from the Premier League side in August.
He has featured in eleven of the 17 league games the Welsh club have played so far, making two goal contributions.
However, there has been an injury scare regarding the player after he picked up one in the 2-2 draw against Hull City on Saturday.
In fact, the 22-year-old had to be replaced by Harry Darling just after ten minutes, though the nature of the injury is yet to be ascertained.
Swansea have received one boost though involving Ashby.
There are no indications that Newcastle will recall the player in January and he looks set to stay at Swansea.
Swans have not enjoyed a positive start to their Championship campaign this season, being placed 17th, eight points above relegation battlers Rotherham United.
