4 September, 2013
The Australian dollar extended gains on Wednesday after the release of GDP data showed Australia grew 0.6 percent in the second quarter, in line with expectations and higher than the previous quarter.
AUDUSD climbed to a session high of 91.04 U.S. cents, up 2.4 percent since yesterday when the Aussie also gained after the Reserve Bank of Australia left interest rates unchanged at a record low and omitted mention of further scope to ease policy.
Other currencies barely showed any significant movement today, holding close to the precious day’s levels, with most in tight ranges.
The yen remains weak, with USDJPY rising back up closer to yesterday’s levels , and peaking at 99.76 yen today, climbing from the session open of 99.54.
The upcoming Bank of Japan meeting is weighing on the yen, as investors are reluctant to buy any yen ahead of risk that the BOJ will announce more monetary easing measures.
Ever since the BOJ has begun implementing such stimulus measures to boost the Japanese economy this year, the yen has weakened considerably.
Euro moved very little ahead of a key European Central Bank meeting on Thursday, with caution on what ECB Chief Mario Draghi could say. EURUSD stayed between $1.3161 and $1.3175
Sterling was held down also as focus is on UK Services PMI data later today. Also the Bank of England policy decision tomorrow will be closely watched. GBPUSD was in a holding pattern between $1.5552 and $1.5566.
The Asian session was calm as the economic calendar was light and most investors were positioning ahead of key risk events later this week, primarily the US nonfarm payrolls report on Friday...
The first full trading week of 2014 began today, with Japan opening for the first time after a two-week holiday...
The pair extended the positive trading, whereas it approached 61.8% correction at 1.3625
The dollar rose above 102.00 yen for the first time since May 29, while the euro flirted with the key $1.36 handle and hit a new four-year high within striking distance of 139.00 yen...
The best performing currency during Thursday’s Asian session was the Australian dollar which jumped against its US counterpart after strong Australian business spending data. Private Capital Expenditure increased by 3.6% quarter-on-quarter despite expectations for a decline by 1.1%...
The main currency of the day was the sterling which outperformed against the dollar and euro, as well as against the yen after being boosted by strong UK second quarter growth data...
The euro was stronger today particularly against the dollar and the pound. While there were no economic data releases today from the Eurozone to explain the move, there were some headline news which affected sterling and dollar...
The yen was supported by safe haven demand today after the release of a slightly dovish Bank of Japan policy meeting minutes. The minute from last weeks meeting showed some concern about Japans economic outlook and whether the central bank 2% inflation target could be met...
The dollar remains bullish against the yen, while the euro hit a new four-year high against the Japanese currency in todays Asian session...