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Forex pairs in this Article » EUR/USD, USD/CHF, GBP/USD, USD/JPY
FXStreet (Bali) - As one would expect, the Asian session preceding the US NFP lottery number kept most currencies range-bounding in tight ranges.

One of the exceptions though, was the Australian Dollar, which initially reacted to the upside on an upbeat RBA,upgrading both growth and inflation, yet the joy for buyers was ephemeral, as a stampede of sellers well camped ahead of 0.90 abruptly sent the pair back below 0.8940 supports tripping stops in the process. Sales in AUD/JPY were also given part of the blame. The China HSBC services PMI, which came marginally weaker at 50.7 in Jan vs 50.9 in Dec, was shrugged off by AUD traders.

Yen sellers found on the buoyant Nikkei 225, up 2%, a great ally to keep the pressure to the upside in the USD/JPY market. However, offers around 102.00 combined with decrease in volumes led to choppy conditions, with no real conviction to make new highs for the week. The rate has stabilized circa 102.00 ahead of the US jobs, which should set the next direction on the pair.

The Kiwi traded weaker in tandem with the Australian Dollar. The Euro consolidated its gains on the back of some gigantic moves on Thursday, as the ECB shows little concerns about deflationary pressures in Europe. The Pound had a quiet consolidation too, and so did the Swiss Franc and the Canadian Dollar, this latter expecting also its jobs report later today.

Main headlines in Asia

A volatile time ahead - Westpac Banking Corporation ABN

AUD/USD breaks 0.8940 support, harsh decline post RBA

RBA upgrades growth and inflation

HSBC China services PMI Jan signals slower expansion

China's Q4 Prelim Current account surplus at $49.84 billion

China default risk to be increasingly discussed in the press - JPMorgan
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