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Session Recap: AUD & NZD bounce as jobs beat estimates down under; China CPI in line

FXstreet.com (Barcelona) - Better than expected employment figures came out today in New Zealand and Australia, making AUD and NZD both bounce strongly from previous support areas, up to 1.0260 for AUD/USD and 0.8484 for NZD/USD. The USD overall eased slightly even against Yen, with USD/JPY down to session lows at 98.73.

China CPI showed a +2.4% increase for the month of April year on year, slightly above consensus and previous at +2.1%, making Shanghai index trade a -0.65% for the day as PBoC easing policies may take now longer than anticipated. Korean Kospi instead rallied more than +1% on the back of the Bank of Korea lowering rates to 2.5% from 2.75%.

Nikkei index found resistance at yesterday's fresh almost 5-year highs shy of the 13400 points ask line, still adding +0.24% profits for the day so far, while Gold has had a similar session than yesterday, first moving lower for then jumping to fresh session highs at $1478 in the spot market, to end just as it started at last $1474. Oil remained steady around the $96 mark.

Main headlines for the Asian Session:

Forex: EUR/USD, nowhere to go

Forex: Soros' AUD short idea attracts supporters, Druckenmiller joins bear call

Australian PM Gillard says the resources sector is growing strongly

New Zealand labour market much stronger than forecast

Forex: Kiwi claws back losses after NZD jobs data beats estimates

Forex Flash: RBNZ currency intervention not always a success - Nomura

Bank of Korea cuts key interest rate to 2.5% from 2.75%

Forex: EUR/JPY ready for the next leg up?

Australian jobs comes at a 'mind-blowing' 5 times above expectations

Forex: Aussie rockets higher after AUD jobs data crushes estimatesCommodities Brief: Oil adds to gains, notches highest daily close since late March

Forex: GBP/USD continues to consolidate ahead BOE Rate Decision

Forex: EUR/USD notches a solid day of gains as ‘risk on’ mentality continues?

In a day where risk assets were primarily well bid across the board, the Euro was able to notch some decent gains, finishing up 81 pips at 1.3159. The initial catalyst which seemed to help push the pair higher was the German Industrial Production (MoM) release which came in at 1.2% actual vs. -0.1% forecast.
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Forex Flash: Potential double top forming in CAD/JPY – TD Securities

The CAD/JPY traded in very narrow range, closing the day 14 pips lower at 98.48. The pair appears to be consolidating recent gains but is having trouble building value above the critical 99.00 resistance level.
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