Asian Session Recap – April 11, 2014

  • NZ REINZ house prices rises by 3.2% m/m and 9.2% y/y
  • BOJ meeting minutes show agreement over current policy plans
  • China annualized CPI at 2.4% as expected
  • China annualizd PPI drops by 2.3% vs. 2.2% slip expected

Ho-hum. Not a lot of action from the major currencies today thanks to the lack of surprises from China and the BOJ. The Bank of Japan’s latest meeting minutes only show that the members agree with the current plans to pursue “qualitative and quantitative” easing. Meanwhile, China’s inflation numbers mostly came in as expected at an annualized rate of 2.4%.

EUR/USD and GBP/USD stayed in tight ranges while USD/JPY only crawled 20 pips higher. Comdolls like AUD and NZD showed bigger movements after AUD/USD encountered a lot of sell orders just below the .9400 handle. This also weighed on NZD/USD by around 60 pips even though New Zealand’s national house prices showed growth for the month of March.

Will the London session traders provide a more interesting session of tug-o-pips? Germany’s final CPI and wholesale price index, which were released not an hour ago, haven’t shown significant impact on the euro as of writing. Let’s see if the UK’s CB leading index at 9:00 am GMT will do it for the currency bulls and bears. In any case, keep close tabs on the newswires in case we see reports that would dictate sentiment for the day!

U.S. Session Recap

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  • ForExchange

    Hi Pip Diddy,

    I cannot agree completely on the lack of action. Look at Cyclopips trade on EUR/NZD! That was unfortunately a more than 200 pip rally which is in such a short time period a huge movement! What do you think, what are the reasons for that?

    Regards