- AUD lower on China’s trade deficit report
- NZ quarterly manufacturing sales grows by 6.3% vs. 6.2% previous
- Japan’s Q4 2013 GDP revised from 1.0% to 0.7%
- Japan’s current account deficit widens to its record at 1.59 trillion JPY in Jan.
- Nikkei closes down by 1.01% to 15,120.14
Risk appetite took a backseat in today’s Asian session trading as investors priced in their worries over China’s trade deficit (yes, a deficit!) over the weekend, weak Japanese data, and concerns over Ukraine.
EUR/USD and GBP/USD stayed in their tight intraday ranges while the yen crosses started the session with a gap lower. The gaps quickly got filled but the yen’s counterparts also ended up stuck in their ranges.
It was the comdolls that got the shorter end of the stick as investors reacted to falling commodities prices. Oil, copper, gold, and other metals took hits today after China printed a weak trade balance figure. Of course, it didn’t help risk appetite that Japan’s Q4 2013 GDP was revised lower and that its trade deficit figures printed at its widest in history.
Over the next couple of hours we’ll see data from the euro zone which includes France’s industrial and manufacturing production at 7:45 am GMT, followed by the Swiss retail sales at 8:15 am GMT, and the euro zone’s Sentix investor confidence data at 9:30 am GMT. The reports are expected to print a bit higher than their previous figures but keep an eye out for possible misses and upside surprises!
Bonnie and Clyde, peanut butter and jelly, Taylor Swift and her guitar. Some things just go well together.