Asian Session Recap – January 8, 2014

  • Nikkei posts 1.94% gain for the day
  • Canadian dollar continues to lose ground
  • German trade balance, euro zone retail sales, jobs data coming up

Yen pairs edged higher in today’s Asian trading session, as the Nikkei stock index posted a 1.94% gain and closed around its session highs. Among other major currency pairs, price action was relatively subdued, except for USD/CAD which climbed up to the 1.0800 handle.

Up ahead, we’ll see Germany’s trade balance, along with euro zone retail sales and jobs data. Germany’s trade surplus is projected to widen from 16.8 billion EUR to 18.9 billion EUR, reflecting stronger export conditions. Euro zone retail sales could see a 0.2% rebound while the unemployment rate could hold steady at 12.1%. Bear in mind though that weaker than expected results could lead to a deeper euro selloff.

See also:

U.S. Session Recap

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