Asian Session Recap – June 11, 2014

  • Australia Westpac consumer sentiment up by 0.2% in June
  • Nikkei chalks up 0.24% gain for the day
  • U.K. economy to show 25K drop in unemployment?
  • U.K. jobless rate likely to improve from 6.8% to 6.7%

Surf’s up for the Aussie! The Australian dollar drew support from a 0.2% uptick in Australia’s Westpac consumer sentiment index for June, following the previous month’s 6.8% decline. AUD/USD surged to a high of .9388 while AUD/JPY is attempting to break above the 96.00 major psychological barrier.

Risk sentiment appeared to improve in the past few Asian trading hours, with the Nikkei chalking up a 0.24% gain for the day. NZD/USD made strong gains past the .8550 mark while GBP/USD held steady above the 1.6750 minor psychological level. However, the increased appetite for risk failed to carry over to euro pairs, with EUR/USD sinking to a low of 1.3519 and EUR/JPY dipping to 138.27.

The U.K. economy is set to print its jobs report for the month of May, with the claimant count change to show a 25.0K drop in unemployment and the jobless rate likely to improve from 6.8% to 6.7%. No other reports are due from the other major economies in the upcoming London session so all eyes could be on the pound pairs in the next few hours!

U.S. Session Recap

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