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May 10, 2013
Session Recap: Yen extends loses; Nikkei prints fresh 5-year high
FXstreet.com (Barcelona) - Another Asia-Pacific session of consolidation in recent USD gains to end the week, with further Yen weakness to fresh 4-year highs at 101.20 USD/JPY, breaching the 101.00 options related barrier. Yen printed fresh multi-year lows on the back of Nikkei climbing to fresh 5-year highs above the 14600 points figure, following Tokyo open and better than previous foreign bond purchases from Japan.
EUR/USD and other major pairs not Yen related have been mostly range bound around the 1.3040 level for Euro, while AUD/USD around 1.0080, GBP/USD 1.5544, and USD/CHF 0.9500. Gold has bounced to session highs around the $1461, with Oil muted near the $96 mark.
Local share markets show mostly gains all across the board but for the Korean Kospi that loses -1.32% for the day, and Hang-Seng down a tiny -0.14%. Australian ASX rises +0.31%, Nikkei index +2.88%, and Shanghai +0.05%.
From the RBA statement, the Aussie central bank cut the inflation outlook and insisted on their “below trend” forecast growth for this year, while noting the elevated rate of the currency, pointing for a slow down in resource investment and fiscal tightening.
Main headlines in the Asian Session:
Forex: EUR/JPY notches highest daily close since Jan 2010
Germany’s Schaeuble: Supports easing of Europe’s austerity drive.
New Zealand Apr Electronic Card Retail Sales (YoY) increase to 5.2% vs 4.2%
Commodities Brief: Precious metals decline as US Dollar finds buyers
Forex: AUD/JPY still consolidating within ‘pennant’ pattern on daily chart
Japan’s current account surplus continues to shrink
RBA monetary policy cuts inflation forecast, GDP outlook little changed
Forex: USD/JPY, bulls officially staring at 101.00 from the rear mirror
New Zealand finance minister English: Doesn’t expect the RBNZ to target the exhcnage rate
Forex: Will a busy economic schedule next week be the catalyst for EUR/USD?
EUR/USD and other major pairs not Yen related have been mostly range bound around the 1.3040 level for Euro, while AUD/USD around 1.0080, GBP/USD 1.5544, and USD/CHF 0.9500. Gold has bounced to session highs around the $1461, with Oil muted near the $96 mark.
Local share markets show mostly gains all across the board but for the Korean Kospi that loses -1.32% for the day, and Hang-Seng down a tiny -0.14%. Australian ASX rises +0.31%, Nikkei index +2.88%, and Shanghai +0.05%.
From the RBA statement, the Aussie central bank cut the inflation outlook and insisted on their “below trend” forecast growth for this year, while noting the elevated rate of the currency, pointing for a slow down in resource investment and fiscal tightening.
Main headlines in the Asian Session:
Forex: EUR/JPY notches highest daily close since Jan 2010
Germany’s Schaeuble: Supports easing of Europe’s austerity drive.
New Zealand Apr Electronic Card Retail Sales (YoY) increase to 5.2% vs 4.2%
Commodities Brief: Precious metals decline as US Dollar finds buyers
Forex: AUD/JPY still consolidating within ‘pennant’ pattern on daily chart
Japan’s current account surplus continues to shrink
RBA monetary policy cuts inflation forecast, GDP outlook little changed
Forex: USD/JPY, bulls officially staring at 101.00 from the rear mirror
New Zealand finance minister English: Doesn’t expect the RBNZ to target the exhcnage rate
Forex: Will a busy economic schedule next week be the catalyst for EUR/USD?