Asia Recap: Yen top performer, Aus/China data uneventful

By FXstreet.com | June 09, 2014 AAA

FXStreet (Bali) - The Yen was the best performer in Asia, while the Australian, New Zealand and US Dollars all remained neutral in a quiet session.

USD/JPY, weighed by a heavy Nikkei 225 (-0.5% into the close), saw the price extend below Monday's low, only if marginally, until stalling at the 102.33, level where the 100-day MA was met and some demand observed.

AUD/USD continues to struggle to build on recent gains above the 0.9350 handle, as sellers remain well camped ahead of a critical descending trendline coming all the way from last Oct 13 high. Australian economic data, with business confidence unchanged and business conditions easing a bit, failed to stimulate prices. Slightly-higher-than-expected inflation numbers in China was helpful to keep the pair well bid.

The rest of G10 currencies, including the NZD/USD, which continues to pivot around 0.85 round number, were confined within tight ranges ahead of the European open, with all financial centers back to business as usual after Monday's festivities.

Main headlines in Asia

PBoC announces selective RRR cuts to banks

BoJ inflation outlook dimishes chances of immediate easing - Nikkei

NZ manufacturing sales marginally positive in Q1

United Kingdom BRC Retail Sales Monitor - All (YoY) came in at 0.5% below forecasts (1.6%) in May

Japan Tertiary Industry Index (MoM) registered at -5.4%, below expectations (-3.3%) in April

Japan Money Supply M2+CD (YoY) above forecasts (3.2%) in May: Actual (3.3%)

Australian business conditions ease again

Australia ANZ Job Advertisements fell from previous 2.2% to -5.6% in May

China Consumer Price Index (MoM) came in at 0.1%, above expectations (-0.1%) in May

Australia Investment Lending for Homes up to 2.3% in April from previous -0.8%

Australia Home Loans registered at 0%, below expectations (0.2%) in April

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