10 September, 2013
Most major currencies consolidated into very small ranges in Asian session trading on Tuesday, with very little activity in especially euro and sterling.
USDJPY was quiet too, briefly rising to above 99.70 early in the session and then down to around 99.50. The greenback was subdued due to market expectations of a possible delay in Fed tapering after Friday’s disappointing U.S. jobs report.
Australian dollar was the biggest mover today as a result of its reaction to upbeat economic data from China, which is Australia’s main export market. Domestic data also lent support. National Australia Bank’s August business-confidence survey showed sentiment at its highest in more than two years.
China’s Industrial production rose 10.4 percent from a year earlier, accelerating from July's 9.7 percent advance. Also Chinese retail sales rose by 13.4 percent compared to August last year.
AUDUSD rose to 92.87 U.S. cents, up from the session open of 92.26 U.S. cents.
EURUSD hardly moved, reaching session highs at $1.3270, while GBPUSD was little changed at $1.5700.
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...