Asian Session Recap – January 15, 2014

  • China’s credit growth slows in December
  • World Bank raises global growth forecasts on recovery of developed nations

No major news from the Asian markets today, which led to a continuation of the previous session’s price action. The US dollar gained by an average of 40 pips against the euro, pound, and the yen while the comdolls also stumbled against the Greenback.

It also didn’t help the comdolls that China showed weak reports. Data from China revealed that new yuan loans, money supply growth, and a broad measure of new credit growth all fell in December as China deals with a cash crunch and government efforts to curb spending. The country’s foreign reserves also hit a record high of $3.83 trillion in December, a 4.3% increase from its last reading in September.

At 5:15 pm GMT see Switzerland’s retail sales numbers. It will be closely followed by the euro zone’s trade balance report and the U.K.’s CB leading index data. These reports don’t usually move the currencies much but the absence of tier 1 events could affect its usual impact on the European currencies.

See also:

U.S. Session Recap

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