Asian Session Forex Recap – Nov. 11, 2014

  • Australia’s NAB business confidence index down from 5 to 4 in Oct
  • Home prices in Australia up by 1.5% in Q3 vs. 1.6% forecast
  • Japanese current account balance widened from 0.13T to 0.41T JPY
  • Japanese consumer confidence down from 39.9 to 38.9 in Oct
  • Japan’s Economy Watchers sentiment index declined from 47.4 to 44.0
  • U.K. BRC retail sales monitor showed flat reading for Oct
  • No major data releases from euro zone or U.K. today

And the higher-yielders are at it again! The safe-haven dollar seems to be returning some of its recent U.S. session gains, as forex traders regained appetite for risk. AUD/USD is up 0.30% so far, despite a fall in Australia’s NAB business confidence index from 5 to 4 in October and slightly weaker than expected 1.5% quarterly increase in house prices.

EUR/USD is up 0.10% so far and is keeping its head above the 1.2400 handle, as there are no data releases from the euro zone today. GBP/USD is also struggling to stay afloat at 0.02% in gains so far, despite the flat reading in the U.K.’s October BRC retail sales monitor.

Weak data from Japan pushed the yen lower once more, as the consumer confidence index declined from 39.9 to 38.9 in October while the Economy Watchers sentiment reading fell from 47.4 to 44.0. USD/JPY is up 0.46%, EUR/JPY is up 0.45% at 143.30, and GBP/JPY is up 0.5% and edging close to 183.00.

The lack of forex market catalysts in the upcoming London trading session might keep currency pairs stuck in ranges, unless there’s a significant shift in risk sentiment. Traders might start pricing in ahead of tomorrow’s top-tier events though so y’all better keep an eye on the charts even if there are no reports due. Good luck and good trading!

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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