Asian Session Recap – March 17, 2014

  • Asian markets shrug off Crimea, PBoC news
  • NZ Westpac consumer sentiment at 121.70 vs. 120.1 previous
  • UK Rightmove house price index up by 1.6% vs. 3.3% increase last month
  • AU new motor vehicle sales inches 0.1% higher vs. previous 4.0% decline
  • Nikkei closes down 0.35% at 14,277.67

With Crimea voting to become part of Russia and the PBoC doubling the yuan’s trading band you would think that we’d see a more volatile trading from the major currencies. Unfortunately for forex traders, only the Aussie showed remarkable price action with AUD/USD and AUD/JPY rising by at least 50 pips on the PBoC news and positive new motor vehicle sales data.

The yen crosses also showed a bit of movement as the yen gave up some of its gains on the back of not-so-terrible trading session for the Asian markets. Pairs such as USD/JPY and GBP/JPY popped up by about 40 pips. The other major currency pairs stayed within their tight ranges throughout the session.

Let’s see how traders from the West price in the news from Crimea and China. Aside from the impact of those news bits, you should also watch out for euro zone’s final CPI reading for February out at 10:00 am GMT. Remember that the ECB is keeping close tabs on the region’s inflation so you should too!

See also:

U.S. Session Recap

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