Asian Session Recap – January 10, 2014

  • Chinese trade balance falls short of consensus
  • Nikkei closes with 0.2% gain
  • Japanese leading indicators at 110.8% as expected
  • Swiss CPI to show 0.1% decline in price levels
  • U.K. manufacturing production coming up

Ho humm… Most currency pairs were stuck in consolidation in today’s Asian trading session, thanks to the lack of top-tier reports from major economies. China printed a weaker than expected trade surplus of 25.6 billion USD versus the consensus of a 32.6 billion USD surplus and lower compared to the previous 33.8 billion USD reading.

Japan, on the other hand, shared a bit of good news with its leading indicators report. The index climbed from 109.8% to 110.8% as expected, enough to let the Nikkei close with a 0.2% gain for the day.

Up ahead, we have French industrial production data and Swiss CPI. France is expected to post a 0.6% rebound in industrial production after seeing a 0.3% decline in the previous month while Switzerland could report a 0.1% drop in price levels. Weaker than expected CPI might push USD/CHF up the charts, as the pair has just broken above a long-term falling trend line.

Meanwhile, the U.K. will release its manufacturing production data and possibly show another 0.4% increase. Stronger than expected results could boost the pound higher prior to the NFP release later on.

See also:

U.S. Session Recap

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