Asian Session Recap – Sept. 15, 2014

  • Chinese industrial production up by 6.9% y/y vs. 8.8% forecast
  • Chinese fixed asset investment showed 16.5% y/y gain vs. 16.9% forecast
  • Chinese retail sales up by 11.9% y/y instead of 12.1% estimate
  • Japanese banks on holiday today
  • U.K. Rightmove HPI up by 0.9% in September
  • Australian new motor vehicle sales down by 1.8% in August
  • Swiss PPI and euro zone trade balance due

Check out those weekend gaps! Weak Chinese data released over the weekend led Aussie forex pairs to open lower, with AUD/USD recently dipping below the .9000 major psychological level.

For the month of August, Chinese industrial production marked a 6.9% annualized gain versus the estimated 8.8% figure while fixed asset investment marked a 16.5% increase instead of the projected 16.9% reading. Meanwhile, retail sales showed an 11.9% increase, lower than the expected 12.1% gain.

In Australia, new motor vehicle sales saw a 1.8% decline for August, following the decline in the previous month. In fact, the July figure was downgraded to show a 1.5% drop from the initially reported 1.3% decrease.

Japanese banks are on holiday today, which suggests potential forex consolidation among yen pairs. USD/JPY is still hovering above the 107.00 handle while EUR/JPY is struggling to hold on to 139.00.

Earlier today, the U.K. reported a 0.9% rebound in Rightmove HPI for September, following the 2.9% decline marked in August. GBP/USD was able to fill its weekend forex gap higher, as the pair is moving close to the 1.6250 minor psychological level. EUR/USD could also have a chance to fill its weekend gap, with the euro zone trade balance due and likely to show a wider surplus.

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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