OctaFX | OctaFX Forex Broker
Open trading account

Asia Recap: Contrast of fortunes for the Antipodean currencies

FXStreet (Bali) - In a contrast of fortunes for the antipodean currencies, the Australian Dollar ended as the main winner in the Asian session, while the Kiwi took another hit, finishing as the main laggard.

AUD/USD jumped to a session high of 0.9267 following positive Australian data, which saw a marked improvement in both business confidence and conditions allowing the pair to jump over 20 pips off 0.9247 session lows. Going forward, the 0.9280-.93 is the next key hurdle to the upside.

USD/JPY kept extending last Friday's bounce, with price making it to 102.30 after a 102.20 open in Asia. The strengthening of the pair has now unwound the majority of Yen gains seen last week, with the environment, so far, benefited from a somewhat calmer geopolitical risk landscape.

NZD/USD traded under pressure, being the worst performer, reflecting a persisting bearish sentiment towards the Kiwi, which seems to be heading towards a 5th consecutive week of losses. The lowest of the session was 0.8414, with NZ July residential house price index, at -0.7% m/m, weighing.

In other fundamental news, British retail consortium (BRC) July retailcame at -0.3 % y/y vs +0.9% exp, weighing a bit on the GBP allure. Meanwhile, in Singapore, Q2 GDP grew at an annualized 0.1% pace (QoQ), a number above the -0.1% expectations. In Japan, the PPI for July was +4.3% y/y (vs. expected was vs +4.4% exp, while in Australia, as mentioned above, the NAB business confidence for July came at +11 vs 8 last, business conditions at 8 vs 3 last, while Australia's house price index for Q2 stood at +1.8% (QoQ) vs 1%.

USD/JPY range-trading to persist a little longer - TDS

According to TDS FX Team, the recent range-trading environment between 101/103 in USD/JPY looks set to persist for a little longer.
Read more Previous

Bad premonitions keep EUR/USD under pressure

EUR/USD touched the Asian low at 1.3366 as the single currency is under pressure across the board in anticipation of weaker ZEW numbers
Read more Next
Start livechat