26 Jun 2014
Asia Recap: Heavy Kiwi buying dominates
FXStreet (Bali) - The Kiwi took the spotlight in the Asian session, flying from an open around 0.8725 to post a new high of 0.8770, while the rest of G10 currencies showed little moves, with USD weakness continuing to be the dominant theme.
The Aussie initially attempted to follow the Kiwi's stellar performance, although no follow through was observed, posting a session high of 0.9415 before returning to 0.94, EUR/USD was marginally higher at 1.3630, USD/JPY traded softer to reach a low of 101.73, while AUD/NZD broke support at 1.0750, sliding to 1.0720.
On the fundamental domain, the calendar was virtually empty, with the only data published being out of Japan, where it was revealed that Japanese buying of foreign bonds stood at Y 1486.5B for the week ended June 20, foreign stocks buying coming at Y 4.7B, foreign buying of Japan bonds, at Y -475.2B (sold) and foreign buyingof Japan stocks at Y 295.6B. In Australia, a second tier event was release, with job vacancies coming at +2.5% in Q2.
The Aussie initially attempted to follow the Kiwi's stellar performance, although no follow through was observed, posting a session high of 0.9415 before returning to 0.94, EUR/USD was marginally higher at 1.3630, USD/JPY traded softer to reach a low of 101.73, while AUD/NZD broke support at 1.0750, sliding to 1.0720.
On the fundamental domain, the calendar was virtually empty, with the only data published being out of Japan, where it was revealed that Japanese buying of foreign bonds stood at Y 1486.5B for the week ended June 20, foreign stocks buying coming at Y 4.7B, foreign buying of Japan bonds, at Y -475.2B (sold) and foreign buyingof Japan stocks at Y 295.6B. In Australia, a second tier event was release, with job vacancies coming at +2.5% in Q2.