Asian Session Recap – January 13, 2014

  • AU home loans approvals rise by 1.1% as expected in November
  • AU ANZ job ads drops by 0.7% vs. 0.9% decline last month
  • Chinese yuan hits record high vs. USD
  • Japan on a bank holiday

Tokyo is out on a bank holiday today but that doesn’t mean that we didn’t see interesting price action during the Asian session. Major currency pairs like EUR/USD and GBP/USD barely moved from their Friday close levels but USD/JPY was hit by more traders pricing in a slower pace of tapering from the Fed. The pair dropped lower than Friday’s lows and is currently trading near 103.50.

The comdolls also benefitted from the overall dollar aversion, which also resulted to the Chinese yuan hitting its 20-year high against the Greenback. AUD/USD is now trading above .9000, NZD/USD is making new yearly highs, and even USD/CAD is 50 pips below its Friday highs.

The only report on the docket is Italy’s industrial production numbers due at 6:00 pm GMT. The report doesn’t usually make a lasting impact on the euro so you might want to watch out for other catalysts that might the major currencies’ price action.

See also:

U.S. Session Recap

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