Asian Session Recap – April 17, 2014

  • Australian New Motor Vehicle Sales m/m: -0.3% vs. 0.1% previous
  • Japanese Consumer Confidence: 37.5 vs. 37.7 forecast, 38.3 previous
  • German PPI y/y: -0.9% vs. -0.7% forecast

No major economic data points from Asia this morning, but BOJ Governor Kuroda did give a speech earlier, repeating rhetoric from the recent Bank of Japan meeting that quantitative easing will continue based on their inflation targets and economic conditions, and that the recovery is moderate.  The price action for the Japanese Yen around the speech was bullish, but very short-term and seems to have been already faded.

The comdolls are slightly lower on the session (possibly a continuation from China’s tick lower in GDP yesterday), and the British Pound strength sparked by a positive surprise in their unemployment rate still has yet to be faded.

Up ahead at 9:00 am GMT, we’ve got tier two data in the form of European Current Account data. This isn’t normally a market mover, so price action will most likely continue to remain flat with a lack of major events until the U.S. session, and ahead of the long holiday weekend. With traders away for holiday, liquidity will be lighter which means tighter ranges and bigger reactions to any surprise news events.  Stay safe forex traders!

U.S. Session Recap

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