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8 Mar 2013
Session Recap: Yen smacked on growing Korea tensions and awful Chinese imports
China trade balance has been most important risk event during current Asia-Pacific session, showing a $15.3B increase, when market consensus was expecting actually a deficit of $-7.75B according to Reuters. This surplus came on the back of doubled than expected exports, and shrinking imports at lowest levels since early 2012, falling -15.2% year on year, which hurts Australian and Japanese exports.
AUD/USD sold off on the news hitting fresh session lows at 1.0235, last at 1.0246, while USD/JPY extended to another fresh 3-year highs at 95.44, highest since Aug 2009, last at 95.34 while some Japanese officials are currently speaking. Japan GDP figures mostly in line with expectations, showing a slowdown in falling economic growth, with revised 4Q GDP at 0.0% and annualized at +0.2% from previous one at -3.8%.
EUR/USD on the other hand has been relatively quiet with a timid selling pressure, printing session lows at 1.3086, off fresh weekly highs at 1.3118. Local share markets show a mixed picture, with Shanghai in the light red and Korean Kospi and Australian ASX about flat, while Nikkei is up more than +2%, and Hang-Seng is +1.35%.
Euro is alive and jumps above 1.3100; More risk appetite expected
AUD/JPY: Sneaking back towards 97.60
EUR/JPY uptrend reinforced; 125.00 target eyed
Japan Q4 GDP at 0%
China trade way above estimates; massive jump in exports
Aussie falling on bad China imports data
USD/JPY prints yet another fresh high above 95.20
USD/JPY: Buyers coming from all directions
AUD/USD sold off on the news hitting fresh session lows at 1.0235, last at 1.0246, while USD/JPY extended to another fresh 3-year highs at 95.44, highest since Aug 2009, last at 95.34 while some Japanese officials are currently speaking. Japan GDP figures mostly in line with expectations, showing a slowdown in falling economic growth, with revised 4Q GDP at 0.0% and annualized at +0.2% from previous one at -3.8%.
EUR/USD on the other hand has been relatively quiet with a timid selling pressure, printing session lows at 1.3086, off fresh weekly highs at 1.3118. Local share markets show a mixed picture, with Shanghai in the light red and Korean Kospi and Australian ASX about flat, while Nikkei is up more than +2%, and Hang-Seng is +1.35%.
Euro is alive and jumps above 1.3100; More risk appetite expected
AUD/JPY: Sneaking back towards 97.60
EUR/JPY uptrend reinforced; 125.00 target eyed
Japan Q4 GDP at 0%
China trade way above estimates; massive jump in exports
Aussie falling on bad China imports data
USD/JPY prints yet another fresh high above 95.20
USD/JPY: Buyers coming from all directions