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5 Jun 2014
Asia Recap: AUD resilient despite trade data
FXStreet (Bali) - A quiet Asian session in which the Japanese Yen managed to eke out over 20 pips, while the Australian Dollar showed resilience to worse-than-expected trade balance figures.
AUD/USD opened the session around 0.9275, with an initial move lower on the publication of a surprising, although small (-$122m), trade deficit in Australia, which saw the pair print a session low of 0.9257 before rebounding towards new highs for the day above 0.9282 in a V-type of move. The rise in the AUD came on a bit of a counter-intuitive move, due to the lower HSBC China services PMI read right after the Aus data.
USD/JPY continues to find exceptional selling interest around the 102.75/80 region, forcing some weak demand to be absorbed for a comeback towards 102.50 ahead of Friday's US Non-Farm Payrolls. The Nikkei 225, down around 0.2%, although keeping its head above the 15,000 round number, failed to stimulate buyers before Friday's fireworks.
The rest of G10 currencies traded in small ranges, with the exception of the New Zealand Dollar, which found some decent buying interest prior to a test of 0.84 to scratch the 0.8430 resistance. Focus will now be diverted to the EUR and GBP, with the BoE and ECB due to publish their latest monetary policy decision later in Europe.
Main headlines in Asia
Japan Foreign investment in Japan stocks climbed from previous ¥32.6B to ¥81.7B
Jun 4, 23:50 GMTJapan Foreign bond investment fell from previous ¥90.5B to ¥-721.3B
Australia prints small trade deficit, misses expectations
HSBC China services PMI loses 51.00 mark
AUD/USD opened the session around 0.9275, with an initial move lower on the publication of a surprising, although small (-$122m), trade deficit in Australia, which saw the pair print a session low of 0.9257 before rebounding towards new highs for the day above 0.9282 in a V-type of move. The rise in the AUD came on a bit of a counter-intuitive move, due to the lower HSBC China services PMI read right after the Aus data.
USD/JPY continues to find exceptional selling interest around the 102.75/80 region, forcing some weak demand to be absorbed for a comeback towards 102.50 ahead of Friday's US Non-Farm Payrolls. The Nikkei 225, down around 0.2%, although keeping its head above the 15,000 round number, failed to stimulate buyers before Friday's fireworks.
The rest of G10 currencies traded in small ranges, with the exception of the New Zealand Dollar, which found some decent buying interest prior to a test of 0.84 to scratch the 0.8430 resistance. Focus will now be diverted to the EUR and GBP, with the BoE and ECB due to publish their latest monetary policy decision later in Europe.
Main headlines in Asia
Japan Foreign investment in Japan stocks climbed from previous ¥32.6B to ¥81.7B
Jun 4, 23:50 GMTJapan Foreign bond investment fell from previous ¥90.5B to ¥-721.3B
Australia prints small trade deficit, misses expectations
HSBC China services PMI loses 51.00 mark