Session recap: Euro / Pound winners in Asian session; Yen / USD remain pressured

FXstreet.com (Barcelona) - This Asian session has brought more of the same trends that have been in existence in the very recent past – good strength in the euro and British pound and persistent weakness in the safe harbor currencies of the yen and US Dollar.

Data Summary and Reactions

• New Zealand’s Electronic Card Retail Sales beat expectations; NZD strong against USD and AUD
• Japanese Tertiary Index missed expectations; JPY down against virtually everything – except USD
• Aussie Home Loans, Business Confidence and Business Conditions in-line with expectations – AUD relatively flat
• Japanese Consumer Confidence missed expectations – JPY under pressure as mentioned above
• Chinese Industrial Production (missed expectations), Retail Sales (beat expectations) and Urban Investment (missed expectations) have combined to weigh on the Aussie Dollar and the Kiwi in the short-term.

Main headlines in Asia:

DXY downside action persists despite December / January tapering chatter; 79.85 next stop

EUR/USD bursts through 1.3750 barrier

Japanese firms bet for 'JQE2' in 2014 - Reuters poll

USD/JPY rolling over short-term as traders sell greenback; 103.54 remains key resistance

Pound the star in Asia, followed closely by the Euro

Gold finally trading a bit higher as DXY gets hit again; 1251.50 is resistance level to watch