2 May 2014
Asia Recap: Traders sidelined ahead of NFP
FXStreet (Bali) - It was, as expected, a very quiet Asian session, ahead of the US Non-Farm Payrolls number later at 12.30 GMT.
The AUD/USD traded in a 0.926-0.9278 range, with some low impact economic data proving not to be enough to spark greater volatility, as trader go on the sidelines before the NFP fireworks. Australia released data on new home sales for March, coming at +0.2% m/m, while the Q1 2014 PPI stood at +0.9% q/q, above the 0.6% expected.
USD/JPY saw price within a small range between 102.25 and 102.38, with buyers eventually having more conviction to keep the rate towards the upper end of today's range.
On the fundamental front, Japan PM Abe said corporate wage increases have been encouraging, while the Nikkei reported that Japan is considering corporate tax cuts from fiscal 2015.
We also had employment data out of Japan, with the jobless rate for March at 3.6%, as expected, with overall household spending coming upbeat at 7.2% y/y vs 2% expected. Lastly, Japan's monetary base in April stood at +48.5% y/y vs +54.8% last.
The AUD/USD traded in a 0.926-0.9278 range, with some low impact economic data proving not to be enough to spark greater volatility, as trader go on the sidelines before the NFP fireworks. Australia released data on new home sales for March, coming at +0.2% m/m, while the Q1 2014 PPI stood at +0.9% q/q, above the 0.6% expected.
USD/JPY saw price within a small range between 102.25 and 102.38, with buyers eventually having more conviction to keep the rate towards the upper end of today's range.
On the fundamental front, Japan PM Abe said corporate wage increases have been encouraging, while the Nikkei reported that Japan is considering corporate tax cuts from fiscal 2015.
We also had employment data out of Japan, with the jobless rate for March at 3.6%, as expected, with overall household spending coming upbeat at 7.2% y/y vs 2% expected. Lastly, Japan's monetary base in April stood at +48.5% y/y vs +54.8% last.