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Session Recap: USD weakens, Yen strengthens

FXstreet.com (Barcelona) - USD slipped from the 83.20 level of USD index to below the 83 round in early Tokyo trade, taking EUR/USD up with it to fresh session and week highs at 1.3025, USD/JPY to fresh weekly lows at 101.34, USD/CHF to fresh weekly lows at 0.9520, AUD/USD to session highs at 0.9993, and NZD/USD to session highs at 0.8291.

Gold and Oil jumped on the move, both above the $1445 and $95 mark respectively, while local share markets started in the positive but finally showing mixed results with Shanghai down more than -1.5% and Hang-Seng back to break even from a previous near +1% gain. Copper also declined to fresh weekly lows around the $3.20 level, all with US SP500 futures near session highs above the 1630 points mark.

In the data front New Zealand posted weaker than expected retail sales, while Japan released better than expected inflation data, showing improvement in this field, following massive monetary policy easing in last months.

Main headlines in the Asian Session:

UK conservatives to draft bill on Tuesday for EU membership referendum by end of 2017

Forex: EUR/JPY range bound above 132.00

Forex: AUD/USD closes below parity for first time since June ‘12

Forex: US Dollar Index adds to gains, eyes resistance at 83.50

New Zealand Q1 retail sales falls short of estimates

Forex: Kiwi continues to slide, now trading at lowest levels since late March

Japan’s economy minister Amari speaking to reporters: Its better not to comment about FX levels

Forex: AUD/NZD edges higher after NZD retail sales data

Japan Domestic Corporate Goods Price Index (YoY) rises to 0% in Apr from -0.5%

Japan’s finance minister Aso: Bond yields rising as investors shift funds to stocks

Commodities Brief: Precious metals finally setting up for next leg down?

Forex: EUR/USD prints new weekly high above 1.30

Japan’s Suga: JPY correction has started to get the economy moving

US hedge funds turn bullish on the euro

Forex: AUD/USD attempts to recover some losses, edges higher in Asia trade

Forex: EUR/USD still range bound ahead of busy economic calendar week

The EUR/USD finished the day slightly higher, up 26 pips at 1.2981. The pair traded as low as 1.2941 at one point, but again held the important support level which marks the lower end of the trading range the pair has been in since mid March. The main economic data released during the course of the previous day was US Retail Sales, which came in better than expected at 0.1% actual vs. -0.3% forecast. Market participants should be aware of the upcoming German Zew data due out at 9:00GMT. This is just one of many important economic indicators that will be released from both Europe and the US during the course of the week. The pair is currently edging higher during Asia trade, up 30 pips at 1.3010.
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Forex: Look to get long EUR/JPY into support levels – 2nd Skies Forex

The EUR/JPY traded in a fairly narrow range, but managed to close slightly higher on the day up 24 pips at 132.10. Some analysts believe the pair has further upside potential and the next leg up may just be starting.
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