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Session Recap: USD wins, JPY & AUD lose

FXstreet.com (Barcelona) - Quiet session again in Asia-Pacific with USD recovering part of the loses from yesterday's biggest single day decline since Jan 11. AUD/USD has dipped to 1.0340 after being rejected for three times below the 1.04 handle, while USD/JPY managed to climb to 98.30 highs triggering few stops there.

Local share markets traded in a mixed way with Nikkei index up +0.95%, and Shanghai composite down -0.64%, while Gold and Oil held pretty much unchanged. Big winner for the session is USD, while big losers are the Yen and the Aussie.

In the data front New Zealand CPI came in exactly in line as expected at +0.4% q/q and +0.9% y/y while Westpac leading index showed a third consecutive improvement at +0.6%. The RBNZ has room now with this data to keep rates unchanged for longer, while speculation on a possible RBA intervention needed in order to ease AUD exchange rate is starting to make the rounds.

Main headlines in the Asian Session:

Larry Fink says yen slide is over

Australian treasurer Swan: IMF reaffirmed the resilience of the Australian economy – Australia outperforming

Forex: EUR/USD tests 1.3200; Seems there is room for further gains

Australia morning press: RBA might have to consider intervention, cap

Japan PM Abe sneaking up on July elections

Forex: EUR/JPY 400 pips above yesterday's lows

Forex Flash: BOJ plan not significantly more aggressive than Fed’s QE - Nomura

New Zealand CPI Q1 offers no surprises

Forex: EUR/USD forcing sellers out; 1.3110/40 new buyers stronghold

Commodities Brief: Crude Oil WTI shrugs off early losses, finishes higher after volatile session

Forex: USD/JPY adds to gains during Asia session, resistance at 98.50 in focus

Forex: AUD/USD rejected from 1.04 resistance

Forex: EUR/USD edges lower after impressive close above 1.3155 pivot

The EUR/USD was finally able to clear stubborn resistance at 1.3155 (the 100dma), closing up 133 pips at 1.3178. The importance of closing above this pivot should not be overlooked, as the 100dma had limited numerous advances dating back to late February 2013. EUR/USD is now trading above the upper end of a wide trading range which started in January and ranges between 1.3150 and 1.2750. The pair is slightly lower during Asia trade, down 8 pips at 1.3170.
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