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Today’s Asian session was rather subdued, with most currency pairs bound in tight ranges for the duration of the session. The only noticeable movers were the Kiwi and the Aussie, with the former showing some weakness while the latter showed signs of strength.

  • Visitor arrivals in New Zealand m/m: 3.5% vs. 1.9% previous
  • Credit card spending in New Zealand y/y: 6.4% vs. 7.2% previous

Major Events/Reports:

Another U.S. carrier heading to Korea?

According to two loose-lipped, unnamed U.S. defense officials being cited in a CNN report, the U.S. Navy has ordered the USS Ronald Reagan to join the USS Carl Vinson in the Korean Peninsula for training exercises.

No details on how long the two carriers plan to conduct these exercises, though. Also, the report didn’t seem to have a lot of impact on the yen or overall risk sentiment for that matter.

Iron ore climbs higher

Dalian iron ore was slightly up by 0.6% to 477 yuan per dry metric ton today after sliding by 0.9% yesterday. Market analysts pointed to higher Chinese steel prices, thanks to expectations of tigher supply due to China’s crackdown on steel mills

Mixed risk sentiment in Asia-Pacific

Equity indices from the Asia-Pacific region had a mixed performance today.

  • Australia’s ASX 200 was down by 0.16% to 5,728.70
  • New Zealand’s NZX 50 was up by 0.28% to 7,392.11
  • The Shanghai Composite was down by 0.06 to 3,088.34
  • Hang Seng was up by 0.29% to 25,209.50
  • The Nikkei Index was up by 0.24% to 19,601.50
  • KOSPI was up by 0.16% to 2,290.52

Major Market Mover(s):

AUD

The Aussie was slightly but broadly up during the Asian session, likely because of the soft rise in iron ore prices. Other than that, there wasn’t really any apparent catalyst and risk sentiment was mixed.

AUD/USD was up by 9 pips (+0.12%) to0.7426, AUD/CHF was up by 10 pips (+0.14%) to 0.7279, AUD/NZD was up by 25 pips (+0.24%) to 1.0776

NZD

The Kiwi was the wort-performing currency of the session. There were a couple of economic reports for New Zealand, but they were low-tier one. Also, they were mixed, since visitor arrivals increased at a faster pace while credit card spending slowed.

NZD/USD was down by 10 pips (-0.14%) to 0.6890, NZD/JPY was down by 20 pips (-0.27%) to 76.77, NZD/CAD was down by 20 pips (-0.21%) to 0.9366

Watch Out For:

  • 6:00 am GMT: German PPI (0.2% expected, 0.0% previous)
  • 8:00 am GMT: Euro Zone current account (€32.3B expected, €37.9B previous)
  • 10:00 am GMT: CBI’s U.K. industrial order expectations (steady at 4 index points expected)