Asian Session Forex Recap – Nov. 12, 2014

Is risk appetite back on? The U.S. dollar gave back some of its recent gains to its higher-yielding forex counterparts, particularly to the Kiwi as NZD/USD is up 1.53% so far, with RBNZ Governor Wheeler clarifying that they won’t adjust mortgage requirements just yet.

AUD/USD is holding on to a 0.15% gain, boosted by a positive reports released in the past few hours. Westpac consumer sentiment is up 1.9% in November, reflecting a strong pickup in confidence. The wage price index chalked up a 0.6% increase as expected, which might be enough to keep consumer spending supported in the near term.

Yen pairs are slightly lower for the session though, as USD/JPY retreated 0.4% to the 115.30 level while EUR/JPY is looking at a 0.3% loss around the 144.00 handle. Apparently, news that Prime Minister Abe might delay the next sales tax hike just hit the airwaves, leading forex traders to speculate that the BOJ might not ease again anytime soon. Apart from that, financial headlines are also showing that Abe might call for a snap election and dissolve parliament later this month!

Up ahead, the forex calendar shows that we’ve got a huge data dump from the U.K. as the jobs report is due, along with the BOE Inflation Report. My buddy Forex Gump had this all covered in his article on 3 Major Catalysts for GBP Trades so y’all should check that out before the London session rolls along.

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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