Asian Session Recap – December 9, 2013

  • Japan current account -0.06T JPY vs. 0.12T JPY expected
  • Japan GDP revised down from 0.4% to 0.3% in Q3 2013
  • AU ANZ job ads -0.8% vs. -0.1% previous
  • China’s CPI misses, reduces worries of tighter policy
  • Swiss retail sales 1.2% vs. 1.0% previous

The high-yielding currencies gapped higher at the start of the week but quickly lost their momentum despite the good vibes that carried over from last Friday’s U.S. session. EUR/USD, GBP/USD, USD/CHF, and the comdolls opened with small weekend gaps but are now near Friday’s closing prices.

China added to the overall risk-friendly vibe when its CPI reading missed expectations and cooled down tightening rumors. Of course, it also didn’t help that Japan’s Q3 2013 was revised slightly lower.

Will we see more profit-taking during the London session? Up ahead is Germany’s trade balance data at 8:00 am GMT, followed by Germany’s industrial production numbers at 12:00 pm GMT. BOE Governor Mark Carney also has a speech scheduled at 6:15 pm GMT so you better not leave your screens!

See also:

U.S. Session Recap

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