Asia Recap: A 'wingless' Kiwi, a resilient Yen

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Bali) - The Japanese Yen was the top performer in Asia, while the Kiwi continued to trade heavy near weekly lows.

On the fundamental space, low-profile events failed to move currencies. In New Zealand, s/adjusted adverts were up 5.7% in June vs previous month, 17.3% from one year ago, according to an ANZ survey. In Australia, the NAB business confidence for Q2 came at 6 vs 7 in Q2.

USD/JPY was rejected off 1.1.70-90 supply zone, taking the exchange rate for a 20 pips ride lower towards 101.50 session low, where bids contained further declines. The Nikkei 225 traded flat for a second consecutive day.

AUD/USD failed to extend the rebound off 0.9330-40 demand area, with last US session highs at 0.9370 leading to a minor setback towards 0.9350-55.

NZD/USD was also heavy, with traders not committing to buy the pair on the deep setback seen this week, on the back of lower-than-expected NZ CPI numbers and dairy auctions.

The rest of G10 currencies vs USD traded in small ranges ahead of the European session, in which the final EZ CPI reading will take center stage.

Related Forex Analysis
  1. Asia Recap: BoJ eases further, market caught by surprise
    Forex News

    Asia Recap: BoJ eases further, market caught by surprise

  2. USD/JPY hits the roof on surprise BOJ easing
    Forex News

    USD/JPY hits the roof on surprise BOJ easing

  3. BoJ throws bombshell by easing further
    Forex News

    BoJ throws bombshell by easing further

  4. Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop
    Forex News

    Euro May Look Past CPI Data, NZ Dollar Down on Building Permits Drop

  5. EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen
    Forex News

    EUR/USD selling activity overwhelmingly from 4-10:30am EDT - SocGen

Trading Center