Forex trading headlines for Asia Friday 07 February 2014

There is a rumour in the market that EUR/USD is a floating currency pair. Dunno … not much evidence for that during this session. Talk about dead. Barely managed a wiggle around 1.3590. Roll on the NFP.

GBP/USD and USD/CHF – same boat. Very quiet indeed. USD/CAD had a 17 point range.

USD/JPY managed a little activity, finding sellers above 102.05 during the Asia session, but buyers ahead of 101.90 on the day held the range narrow indeed. As I post the wrap, USD/JPY attempting the highs of the session again.

Of course, everything had a bit of action against the AUD and NZD – those two providing the show today.

AUD/USD lost a little ground in the Sydney morning ahead of the publication of the RBA’s once-a-quarter Statement on Monetary Policy. The AIG Construction PMI came out earlier, and was weaker, but overall not much to report ahead of the Statement. The Statement saw the AUD immediately spike higher, but running into sellers again, this time a few tics ahead of overnight highs. AUD/JPY sellers, combined with stops below 0.8940 say 0.8923 hit, and then a bounce to grind around 0.8940.

Kiwi lost ground on the session, but found buying again ahead of 0.8200/10. As of posting the Kiwi has pretty much nearly recovered its lost ground, around 0.8235/38 now.