Asian Session Recap – December 11, 2013

  • Yuan hits record high against USD
  • GM to close operations in Australia
  • AU Westpac consumer sentiment falls by 4.8% vs. 1.9% uptick last month
  • Nikkei closes down 0.62%

The comdolls and the yen crosses in general drew the shortest sticks in today’s Asian session trading. No major economic report was released, but the underperformance of Nikkei and other Asian bourses as well as Fed taper expectations encouraged yen and dollar strength.

It also didn’t help the comdolls that Australia printed weak reports. Aside from the disappointing Westpac consumer sentiment numbers, General Motors also announced that it would cease all operations in Australia by 2017. Pessimistic estimates put total job losses to as high as 45,000 to 50,000 after the move.

We don’t have any major report on tap during the London session. This means that we’ll probably see muted trading or more of the same theme from the Asian session. Watch your chart levels closely, folks.

See also:

U.S. Session Recap

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