Article Highlights

  • Japanese banks on holiday today
  • Australia’s Westpac consumer sentiment index up by 8.0% this month
  • Home loans in Australia post 2.7% gain for Dec
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The lack of liquidity in today’s Asian trading session kept most forex pairs stuck in ranges, as Japanese traders were off on a holiday. EUR/USD is holding steady near 1.1320 (-0.02%), GBP/USD is down 10 pips (-0.07%), and USD/CHF is still moving sideways around .9250 (+0.01%).

Yen pairs did manage to post some gains though, with USD/JPY enjoying a nice 21-pip lead (+0.18%) and EUR/JPY advancing by 23 pips (+0.17%). AUD/JPY briefly tested the 93.00 major psychological mark before retreating to 92.91 (+0.16%).

A couple of medium-tier reports were released from Australia, namely the home loans data and Westpac consumer sentiment index. Both releases showed stronger than expected figures, as consumer sentiment improved by 8.0% this month while home loans jumped by 2.7% in December.

Data is still light in the upcoming London trading session, which suggests that the forex consolidation patterns could stay intact. At the moment, it seems that market watchers are focusing on speculations of a Greek exit, which could continue to keep euro gains in check. With no major reports on tap, make sure you keep tabs on any headlines that might impact risk sentiment!

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. 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!