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Forex pairs in this Article » EUR/USD, USD/JPY (Bali) - The big mover in the Asian session was the Australian Dollar, which fell over 1 cent (100 pips) after shockingly low job figures, in which more than 30K full-time jobs were lost.

As reported by the Australian Bureau of Statistics, the seasonally adjusted estimates (Dec change) saw full-time employment decreased 31,600 to 8,067,700 and part-time employment increased 9,000 to 3,561,800. The unemployment rate increased 0.1 pts to 5.8%, based on unrounded estimates. The participation rate decreased 0.2 pts to at 64.6%.

With regards to the Yen, importers demand into and post the Tokyo fix, along with the selling in the Australian Dollar and the bullish bias in the Nikkei 225 (sudden turn lower post lunch break), led to the Asian currency to underperform first only to correct some of its decline late in the Asian afternoon, following the tail of the Aussie, although far behind.

The rest of currencies saw tight ranges, as usual in Asia, with the EUR/USD holding the long term ascending trendline, the NZD/USD well protected by emerging bids ahead of 0.83, while the Canadian Dollar/Swiss Franc continued to correct oversold conditions.

Main headlines in Asia

Fed's Lockhart: Recovery has been frustratingly slow

Moody's: US Deficit shrinking faster, a credit positive

China's Treasury holdings rise $12.2 billion to $1.32 trillion

Japan Machinery Orders (MoM) 9.3% in November

China: FDI - Foreign Direct Investment (YTD)(YoY) (December): 5.3%

Dismal Australian employment figures, full time job losses a worry

AUD/USD: Jobs-induced selling damages technicals
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