- Nikkei closed 0.09% higher for the day
- Australia’s construction work done down 1.2% q/q vs. estimated 0.4% dip
- German GfK consumer climate and import prices data due
- Swiss UBS consumption indicator to show another decline?
The Greenback’s performance was as mixed as a bag of nuts, as it advanced against the European currencies but weakened to the Japanese yen and comdolls. EUR/USD dipped to a low of 1.3153 during the start of the trading session before rebounding while GBP/USD continued to test the 1.6550 minor psychological support. USD/JPY has retreated a few pips below the 104.00 handle, with most yen pairs also edging lower in the past few hours.
Australia reported a 1.2% decline in construction work done for the second quarter of 2014, worse than the estimated 0.4% decline. Aside from that, the previous period’s reading was downgraded from a 0.3% uptick to a 0.4% drop. Despite that, the Australian dollar managed to hold on to its recent gains to the yen at the 97.00 handle while AUD/USD traded around 25 pips above the .9300 handle.
The Nikkei managed to chalk up a meager 0.09% uptick for the day, as risk-taking came in play. NZD/USD is advancing past the .8350 handle while USD/CAD breached the 1.0950 minor psychological support and looks poised to test 1.0900.
German GfK consumer climate and import prices data are up for release in today’s London trading session, with weak figures likely to push the euro lower against its forex counterparts. As for the franc, the Swiss UBS consumption indicator could dictate its direction, depending on whether or not the index lands higher or lower than the previous 2.07 reading.
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