Asian Session Recap – March 19, 2014

  • Japanese All Industry Activity Index: 1.0% vs. 1.1% forecast, 0.1% previous
  • Japanese Leading Indicator (Final): 113.1 vs. 112.2 previous

Today’s Asia session was relatively quiet with only low tier Japanese data on the docket. It looks like traders are taking a break after yesterday’s action packed U.S. session that featured geopolitical news, central banker comments, and a bucket of U.S. data.

Comments from Russian President Vladimir Putin on how Russia is not interested in splitting up Ukraine was the biggest market catalyst (sparking risk-on flows), so today we’re seeing a pull back on that move with the Aussie and Kiwi retreating after yesterday’s broad gains.

NZD/USD is down 19 pips (-0.23%) to .8606, AUD/USD is down 12 pips (-0.14%) to .9111, and NZD/CAD is down 25 pips (-0.25%) to .9574.  The Loonie was a big loser in yesterday’s session thanks to BOC Governor Poloz’s comments on a possible rate cut for Canada, so we’re seeing retracements on those Loonie losses as well.

Sterling will likely take the spotlight in today’s London session as we get U.K. unemployment data and the minutes from the most recent MPC meeting at 9:30 am GMT.  These events tend to spark a good amount of volatility, so before you trade, be sure to check out our forex trading guide to see how volatility may change on the release.

See also:

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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