Asian Session Forex Recap – Jan. 19, 2015

  • Australia’s new motor vehicle sales post 3.0% rebound in Dec
  • U.K. Rightmove HPI up by 1.4% this month
  • Japanese revised industrial production figure at -0.5%
  • Japan’s consumer confidence up from 37.7 to 38.8
  • Swiss PPI and euro zone current account balance due

Major forex pairs were off to a slow start in today’s Asian trading session, as traders seem to figuring out their biases for the week. Data was light in the past few hours, with only a couple of medium-tier reports printed.

Australia’s new motor vehicle sales report showed a strong 3.0% rebound in December, although the Aussie barely benefitted from this release. AUD/USD is down 0.14% and is struggling to stay above .8200 while AUD/JPY is down 0.49%, as the Japanese yen had a bit of a rally halfway into the trading session.

EUR/USD is flat as of this writing and is holding on to the 1.5550 minor psychological handle while GBP/USD is up 0.04%. USD/JPY is down 0.39% but is finding support at the 117.00 mark and USD/CHF is up 1.2% near .8700.

Data from Japan came in line with expectations, as the November industrial production figure was revised to show a 0.5% decline while the consumer confidence reading improved from 37.7 to 38.8.

Up ahead, the forex calendar shows that it’s also a data-light London trading session, with only the Swiss PPI and euro zone current account balance due. Analysts predict that Switzerland could see a 0.6% decline December producer prices and might be in for a weaker than expected reading. Meanwhile, the euro zone is slated to print a larger current account surplus of 22.7 billion EUR from the previous 20.5 billion EUR figure.

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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