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9 Jan 2015
Asia Recap: Solid performance by the Aussie
FXStreet (Bali) - The Australian Dollar had another solid performance in Asia, with the USD trading mostly choppy, as traders adjust positions ahead of the US NFP.
AUD/USD was the main mover in Asia, with the bullish extension coming despite a miss in Australia's retail sales numbers for Nov, and with Chinese inflation numbers coming flat for the month of Dec. The pair registered its highest for the session at 0.8146, breaching marginally a descending trendline coming from Dec 11.
China's Consumer Price Index (MoM) (Dec) came at 0.3% vs 0.3% exp and -0.2% last, while the yearly reading stood at 1.5% vs 1.5% exp and 1.4% last. Meanwhile, the Producer Price Index (YoY) (Dec) came at -3.3% vs -3.1% exp and -2.7% last. In Australia, retail sales s.a. (MoM) for Nov came at 0.1% vs 0.2% exp and 0.4% last.
NZD/USD also extended its gains towards 0.7835, with the Kiwi continuing to trade in sync with the likes of the Australian Dollar. After a 2-day of impulsive bullish runs, the pair seems to have entered an accumulation phase between 0.78 and 0.7835/50. With regards to USD/JPY, a topside failure of 120.00 during the last US session, led the price to retrace towards 119.50, taking out some light stops before stabilizing above the mid round number. Option-related bids circa 119.50, which should act as a magnet given USD2.3 bln in expiries, coupled with solid offers on longs looking to pare back ahead of US NFP, should see action contained in Europe.
AUD/USD was the main mover in Asia, with the bullish extension coming despite a miss in Australia's retail sales numbers for Nov, and with Chinese inflation numbers coming flat for the month of Dec. The pair registered its highest for the session at 0.8146, breaching marginally a descending trendline coming from Dec 11.
China's Consumer Price Index (MoM) (Dec) came at 0.3% vs 0.3% exp and -0.2% last, while the yearly reading stood at 1.5% vs 1.5% exp and 1.4% last. Meanwhile, the Producer Price Index (YoY) (Dec) came at -3.3% vs -3.1% exp and -2.7% last. In Australia, retail sales s.a. (MoM) for Nov came at 0.1% vs 0.2% exp and 0.4% last.
NZD/USD also extended its gains towards 0.7835, with the Kiwi continuing to trade in sync with the likes of the Australian Dollar. After a 2-day of impulsive bullish runs, the pair seems to have entered an accumulation phase between 0.78 and 0.7835/50. With regards to USD/JPY, a topside failure of 120.00 during the last US session, led the price to retrace towards 119.50, taking out some light stops before stabilizing above the mid round number. Option-related bids circa 119.50, which should act as a magnet given USD2.3 bln in expiries, coupled with solid offers on longs looking to pare back ahead of US NFP, should see action contained in Europe.