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Forex pairs in this Article » EUR/USD, USD/JPY
FXStreet (Bali) - A muted trading session in Asia, with some sellers in the New Zealand and Australian Dollar showing up to take advantage of yesterday's spikes. Meanwhile, the Japanese Yen, following Tuesday's retreat, held steady in tandem with a quiet Nikkei 225, maintaining the initial 1.5% gap advantage.

The large 2c appreciation by the Australian Dollar failed to attract further follow-through ahead of the daily ichomoku cloud at 0.8945/50, with a mix of buyers taking profits and committed AUD bears sending the rate to retest its daily kijun line at 0.8875, where buyers stepped in, yet being capped by 0.89.

Yen weakness came to a temporary end after solid offers in USD/JPY well ahead of 102.00 resistance, taking the price down to re-visit the hourly kijun line at 101.25/30, where dip buyers snapped the rate back towards 101.50. A rebound in the Nikkei 225 post lunch break, sending the index away from 14,000 again, back to +1.5% opening level, eased fears of sustained selling in Yen crosses.

The Kiwi strengthened very early in Asia on upbeat New Zealand jobs, with the employment change at 1.1% vs 0.6% expected and the jobless rate at 6%, in line with expectations. Participation rate for Q4 stood at 68.9 vs 68.6% expected, which is a positive sign as more people is actively searching jobs now. As the session went by, the daily kijun line disallowed further appreciation, although good buying interest was noted on the 0.82 retest.

Main headlines in Asia

New Zealand jobs beats expectations

Risk of major top in USD/JPY increased - JPMorgan

Japan December Labor Cash Earnings (YoY) improves to 0.8% vs 0.6%

Deutsche fires three New York forex traders

Australia's transition towards current account surplus positive for AUD
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