10 Jun 2013
Session Recap: Stronger USD, weaker Yen; China and Australia closed for holiday
FXstreet.com (Barcelona) - USD gapped to the upside at the weekly start in early Asia-Pacific on the back of weak China data through the weekend, sending Aussie to fresh 2.5-year lows around 0.94 figure, at the same time USD/JPY higher shy of 98.50 mark. EUR/USD dipped to as low as 1.3185.
Nikkei index has posted session highs above the 13350 points up +3.77% last, while Chinese and Australian markets have been closed over holidays. Kospi and Hang-Seng are both in the positive as well up around +0.4% each, with US equity futures at session highs, above Friday's weekly close. Gold and Oil are little changed.
Japan posted better than expected economic data overall, showing a improving GDP q/q rising +1% vs 0.9% previous and expected. Current account doubled expectations, posting best result in over a year. China data through the weekend showed weak inflation below expectations and bad exports and import figures, which has damaged the Aussie.
Main headlines in the Asian Session:
North and South Korea hold first official talks for more than two years
ECB denies report OMT program is limited
USD/JPY approaches initial resistance near 98.00
Sharp selling in US bond funds hints at high volatility to stay
New Zealand: Manufacturing sales (1Q): 0.2% vs 0%
EUR/USD again finds firm bids near 1.3200
Confirmed – Nelson Mandela has died
Japan's final GDP in Q1 beats expectations
Japan Gross Domestic Product Annualized rises to 4.1% in 1Q from 1%
More on the China weekend data – further stimulus appears unlikely
Commodities Brief: Silver and Gold plummet, Oil finds aggressive buyer
Japan plans ‘drastic’ tax cuts for investment:
GBP/JPY capped below 153.00
Aussie clawing back early losses, eyes resistance at 0.9500
USD/JPY advances capped below 98.50
AUD/JPY consolidating below 92.50
Nikkei index has posted session highs above the 13350 points up +3.77% last, while Chinese and Australian markets have been closed over holidays. Kospi and Hang-Seng are both in the positive as well up around +0.4% each, with US equity futures at session highs, above Friday's weekly close. Gold and Oil are little changed.
Japan posted better than expected economic data overall, showing a improving GDP q/q rising +1% vs 0.9% previous and expected. Current account doubled expectations, posting best result in over a year. China data through the weekend showed weak inflation below expectations and bad exports and import figures, which has damaged the Aussie.
Main headlines in the Asian Session:
North and South Korea hold first official talks for more than two years
ECB denies report OMT program is limited
USD/JPY approaches initial resistance near 98.00
Sharp selling in US bond funds hints at high volatility to stay
New Zealand: Manufacturing sales (1Q): 0.2% vs 0%
EUR/USD again finds firm bids near 1.3200
Confirmed – Nelson Mandela has died
Japan's final GDP in Q1 beats expectations
Japan Gross Domestic Product Annualized rises to 4.1% in 1Q from 1%
More on the China weekend data – further stimulus appears unlikely
Commodities Brief: Silver and Gold plummet, Oil finds aggressive buyer
Japan plans ‘drastic’ tax cuts for investment:
GBP/JPY capped below 153.00
Aussie clawing back early losses, eyes resistance at 0.9500
USD/JPY advances capped below 98.50
AUD/JPY consolidating below 92.50