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Asian Session Recap

  • Nikkei posts 1.80% gain at 15,727.12, highest in 6 years
  • Swiss GDP release coming up
  • German CPI and employment change figures due
  • BOE Governor Carney set to give testimony

There wasn’t much in terms of economic data in today’s Asian trading session, as traders focused mostly on market sentiment. Risk was on, particularly among Asian equities, as the Nikkei posted a 1.80% gain to close at 15,727.12, its highest level in 6 years.

In the next few hours we’ll see Switzerland’s Q3 2013 GDP, which is expected to post another 0.5% figure. A higher than expected reading could lift the franc, which might be enough to push USD/CHF significantly below the .9100 major psychological level.

Also watch out for CPI and jobs data from Germany, euro zone’s largest economy. So far, German economic figures have been coming in strong and have been responsible for most of the euro’s gains recently. CPI is expected to show a 0.1% rebound from the previous 0.2% decline while the unemployment change figure could come in flat. A decline in unemployment or a negative figure could boost EUR/USD and EUR/JPY to new highs, with both pairs testing key resistance levels at the moment.

If you’re trading the pound, better watch out for BOE Governor Carney’s speech at 11:30 am GMT, along with the release of the BOE Financial Stability Report. He has been trying to manage market expectations by saying that the central bank isn’t looking to hike rates anytime soon so he might whistle the same tune in his upcoming testimony.

See also:

U.S. Session Recap

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