OctaFX | OctaFX Forex Broker
Open trading account
Back

Asia Recap: USD main winner yet again

FXStreet (Bali) - The Australian Dollar and Japanese Yen were the worst performing currencies in Asia, while the US Dollar kept building on recent gains, with markets participants comfortable maintaining the dominant USD strength theme.

AUD/USD managed to gun stop through 0.9080 (50% fib Jan-June rally), sending the rate en-route towards next support at 0.9050, where sizeable stops are being reported below. NZD/USD was also weighed by AUssie sales, trading at 0.8165 lows. USD/JPY saw gains expanded beyond 107.30 resistance, peaking at 107.37, although the upward pressure is still present. GBP/USD saw an early boost after the latest YouGov Scottish independence poll results saw the 'No' get back into the lead ay 52% vs 48% that would vote for 'Yes'. Lastly, EUR/USD traded in a narrow range.

On the fundamental front, New Zealand business NZ PMI climbed from previous 53 to 56.6 in August, while NZ food price index (MoM)came at 0.3% in August vs -0.7% last. Also in New Zealand, REINZ house price index (MoM) for August cam at 1.1% vs -0.7% last. In China, new loans came above expectationsin August, reaching 702.5B vs 700B the previous month.

EUR/USD: Expect 1.2860-1.2960 range today - OCBC

Emmanuel Ng, FX Strategist at OCBC Bank, expects EUR/USD to trade within a 1.2860-1.2960 neighborhood today.
Read more Previous

EUR/JPY bulls set their eyes at 139.00

EUR/JPY has been growing since Asian opening; the cross started the day at 138.32 and hit the intraday high at 138.73 and this is not a limit as there are no signs of waning momentum.
Read more Next
Start livechat