Asian Session Forex Recap – Sept. 21, 2015

  • Victory for Greek Prime Minister Tsipras and Syriza party
  • New Zealand visitor arrivals up by 0.2% in August
  • New Zealand credit card spending climbed by 10.5% y/y in Aug
  • NZ Aug Westpac consumer sentiment index down from 113 to 106
  • Japanese banks closed for 3-day holiday

With no major reports lined up in today’s Asian trading session and with Japanese bankers out on a long holiday, forex traders must’ve changed the channel to tune in to the Emmys instead. In case you were wondering, Game of Thrones made an absolute killing!

Speaking of wins, the Greek elections held over the weekend resulted in a victory for Prime Minister Alex Tsipras and his Syriza party, ensuring that the ongoing bailout program is likely to carry on without much conflict.

EUR/USD is up 15 pips and is holding steady above the 1.1300 handle (+0.14%), EUR/JPY is up 11 pips at 135.60 (+0.06%), and EUR/GBP is up 10 pips to .7278 (+0.06%).

New Zealand also had a couple of nods earlier, as visitor arrivals showed a 0.2% increase in August while credit card spending increased by 10.5% year-over-year in the same month. However, the Westpac consumer sentiment index slipped from 113 to 106 then, indicating weaker optimism.

NZD/USD is down 36 pips and testing support at .6350 (-0.57%), NZD/JPY is down 52 pips to 76.13 (-0.52%), AUD/NZD is up 63 pips to 1.1280 (+0.57%), and EUR/NZD is up 152 pips to 1.7800 (+0.87%).

There are no major reports lined up for the upcoming London trading session, which suggests that most forex pairs could be in for a quiet trading day ahead. Still, be on the lookout for the medium-tier German PPI release at 7:00 am GMT since this is expected to show a 0.3% decline in price levels, possibly forcing the euro to return some of its recent gains.

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Kanye West and Kanye West. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!