Article Highlights

  • Japanese leading indicators up from 109.2% to 109.9% as expected
  • S&P downgrade on Qantas weighs on AUD
  • Swiss foreign currency reserves and CPI due
  • German factory orders to show 0.4% decline
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‘Twas a quiet Asian trading session, as most major currency pairs stayed stuck in consolidation ahead of today’s NFP release. Yen pairs, however, posted small gains when the Nikkei stock index recovered on the heels of an improvement in Japanese leading indicators. The index rose from 109.2% to 109.9% as expected.

Meanwhile, the Australian dollar suffered another blow when S&P announced a downgrade on Qantas, which is the Land Down Under’s leading airline company. The rating was lowered from BBB- to BB+ and the outlook was downgraded to negative.

Swiss foreign currency reserves and CPI data are up for release in the upcoming trading session, which should provide a bit more volatility for franc pairs. Also due in today’s London session are German factory orders and U.K. consumer inflation expectations.

See also:

U.S. Session Recap

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