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Session Recap: USD range bound; G-20 “applauds” BoJ policy

FXstreet.com (Barcelona) - USD eased during the Asia-Pacific against EUR and AUD while strengthening against Yen, thus leaving US Dollar index practically unchanged around the 82.60 level for the June contract, with EUR/USD last at 1.3062, AUD/USD at 1.3015, and USD/JPY at 98.48.

After a very quiet session till then, volatility came in following Japan Fin Min Taro Aso at the G-20 meeting in Washington, saying “no-one opposed Japan’s policies at G20 meeting,” and that IMF Lagarde even “applauded Japan's monetary policy,” after which USD/JPY climbed to weekly highs at 98.70.

Local share markets traded in the green overall lead by Chinese markets with Shanghai up +1.37%, and Hong-Kong +1.01%, while Oil has barely retraced to session lows around the $87.80, and Gold is near session highs shy of the $1400 spot price.

Main headlines in the Asian Session:

Forex: EUR/USD consolidates at 1.3050 after failing to break the 1.3100

Commodities Brief: Precious metals hold previous lows as consolidation continues

Goldman cuts China 2013 GDP forecast to 7.8% (down from 8.2%)


EUR/USD: Solid bids reported near 1.3025

US Treasury’s Miller: Too big to fail bailouts are over, US taxpayers wont bail out financial firms again

Bloomberg — Aussie, Kiwi About 10% Overvalued, IMF Official Tells Dow Jones

Forex: AUD/USD finds rock solid support at 1.0290 bid line

South Korean FinMin says weak Yen is bigger threat than North Korea

China Mar CB Leading Economic Index declines to 0 vs 1.2

Aso: Said no-one opposed Japan’s policies at G20 meeting

Switzerland to hold referendum on banning Swiss National Bank from selling any gold reserves

Forex: EUR/AUD to session lows on Aussie strength

USD/JPY: Real money sellers reported above 98.60

Forex: USD/JPY sprints to session highs 98.70 on Aso's comments at the G-20

Dow Jones — Australia Likely to Keep AAA Rating Despite Deficits, says Moodys

Forex Flash: Further downside potential in gold short term - Nomura

Nomura continues to argue that for Gold to find a bottom, "we need to see ETF holdings head higher before calling the low, as this has not yet occurred there could be further downside potential in the short term" Nomura notes.
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Japan Feb All Industry Activity Index (MoM) increase to 0.6% vs -1.4%

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