Asia Recap: G10 FX subdued, USD touch softer

FXStreet (Bali) - It was a quiet Asian session, with subdued flows amid the absence of any catalyst to move currencies in the far east. The Australian Dollar finished as the top performing currency while the US Dollar was a tad softer across the board.

AUD/USD kept extending its correction off sub 0.7850 lows on Monday, with the levels being offered in Asia as high as 0.7940, as the Antipodean currency approaches a key resistance level at 0.7950 ahead of the psychological 0.80. The market still remains in a 'sell rallies' mode, with last week's bearish resolution through 0.80 weighing on technicals, while on the fundamental front, focus will be on Wednesday's Aus Q4 CPI.

USD/JPY remains trapped in a soporific range, with volumes continuing to fall in Asia. Today's high came early in Tokyo at 118.65 before a gradual descend until 118.15 session lows, with option players' role on the rise until a new driver found, which may well be next Wednesday's FOMC meeting, despite most of the investment banks remain quite adamant about new clues being telegraphed by the Fed this week.

The rest of the G10 FX space saw trading within familiar levels. The British Pound kept its bullish tone from Monday's US session, the Euro entered a 20-pip range between 1.1240-1.1260, while NZD/USD saw a bounce off 0.74, capped by 0.7440.

Main headlines in Asia

Japan Corporate Service Price (YoY): 3.6% (December)

Australia: NAB's business confidence improves a touch

China CB Leading Economic Index climbed from previous 0.9 to 1.1 in December

USD/JPY trapped in the range – UOB

Analysts at UOB Group share that only a break out of the 116.50 – 119.50 range would give the USD/JPY pair a more sustained direction.
Devamını oku Previous

Japan may record the lowest inflation since June 2013 – Nomura

According to the Research Team at Nomura, Japan’s December core CPI may decelerate to 0.5% yoy, the lowest level since June 2013.
Devamını oku Next