18 Nov 2013
Session recap: Little data flow to start week – good Chinese data stand alone
FXstreet.com (Barcelona) - Monday’s Asia session brought traders a continuation of the trends that were in force last week – a higher Aussie Dollar being the most conspicuous winner of the session. The strength in the Aussie is likely not only a result of last week’s momentum continuing naturally, but also as a result of some bullish data out of China (read on below).
Chinese data boosts Asia-Pacific “risk” currencies and equities
The release of better month-over-month Chinese House Prices at 01:30 GMT gave all of the “feeder” currencies like AUD, NZD and even JPY a boost in the very short-term. Asian equities were also buoyant coming into the week and also received a turbo boost from the Chinese data – perhaps partially because there wasn’t much else happening in terms of data flow during the session.
Looking out towards the remainder of the Monday session, there will not be any market moving data points until the US session brings traders US TIC data as well as the US NAHB Housing Market Index and c couple of Fed Head speeches by Misters Plosser and Dudley.
Main headlines in Asia:
ECB chief economist Praet: Options even with rates at zero
NZD/USD opens with runaway gap; faces grounds…erasing gains?
EUR/USD still tickling the “underbelly resistance” of previous uptrend line – now at 1.3520
USD/JPY in short-term bull mode with minimum upside to 100.71
Flash: China's reform outlook uncertain - Nomura
AUD/USD trips stops 0.9390+, 0.94 offers into play
GBP/USD continuing the Bernanke / Yellen rally from last week; 1.6166 possible ceiling
Chinese data boosts Asia-Pacific “risk” currencies and equities
The release of better month-over-month Chinese House Prices at 01:30 GMT gave all of the “feeder” currencies like AUD, NZD and even JPY a boost in the very short-term. Asian equities were also buoyant coming into the week and also received a turbo boost from the Chinese data – perhaps partially because there wasn’t much else happening in terms of data flow during the session.
Looking out towards the remainder of the Monday session, there will not be any market moving data points until the US session brings traders US TIC data as well as the US NAHB Housing Market Index and c couple of Fed Head speeches by Misters Plosser and Dudley.
Main headlines in Asia:
ECB chief economist Praet: Options even with rates at zero
NZD/USD opens with runaway gap; faces grounds…erasing gains?
EUR/USD still tickling the “underbelly resistance” of previous uptrend line – now at 1.3520
USD/JPY in short-term bull mode with minimum upside to 100.71
Flash: China's reform outlook uncertain - Nomura
AUD/USD trips stops 0.9390+, 0.94 offers into play
GBP/USD continuing the Bernanke / Yellen rally from last week; 1.6166 possible ceiling