Asian Session Recap – February 6, 2014

  • New Zealand on banking holiday
  • AU retail sales prints 0.5% growth vs. 0.5% growth expectations
  • AU trade balance shows 0.47B AUD surplus vs. -0.27B AUD estimates
  • AU NAB quarterly business confidence rose 3 points to 8
  • U.K. services PMI to improve from 58.8 to 59.1
  • BOE and ECB policy decisions on tap

Think the major currencies were in Snoozeville again? Not for the Aussie! Thanks to a triple combo in Australian reports, the comdoll dominated the Asian session trading. First, the headline retail sales numbers came in as expected at 0.50% while the core figure showed a 0.9% uptick (from the previous month’s 0.7% growth).

The Land Down Under’s trade numbers are nothing to be sneezed at either. The report surprisingly showed a surplus of 0.47 billion AUD, the first consecutive surplus in nearly two years. Last but not the least, the quarterly NAB business confidence report showed an index reading of 8, its highest in two and a half years. Talk about a triple roundhouse kick!

As exciting as price action is, the day’s not over yet. In a few hours the ECB and BOE will take center stage as they announce their monetary policy decisions for February. Forex Gump has the trading guide if you’re planning on day trading them!

See also:

U.S. Session Recap

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