Forex trading headlines for Asia Tuesday 8 July 2014
- EUR – Pressure is mounting on the ECB to take action on high flying euro
- New Zealand 11-month budget deficit is NZ$332m wider than expected
- NZIER Q2 business confidence +32% vs. +52% in prior quarter
- British Chambers of Commerce Q2 survey – Economy growing at robust rate; exports, business investment weakened
- Australia – ANZ/Roy Morgan weekly consumer confidence index: 105.1 (prior was 105.4)
- Japan data – BoP Current Account Balance for May: Y +522.8bn (vs. expected ¥ 417.5B) and more here
- Australia – National Australia Bank business confidence for June: 8 (vs. prior was 7)
- Scottish independence could be ‘more damaging for UK than 2008 banking crisis’
- BOJ deputy governor Nakaso: We intend to achieve the price stability target of 2% at the earliest possible time
A session of a little movement here.
Yen crosses fell a little after the higher than expected current surplus for may, with USD/JPY briefly below 101.70 and EUR/JPY under 138.40 before both bounced back somewhat.
EUR/USD was confined to a very narrow range.
GBP/USD gained in the early going, adding 15 or so points before drifting back to fall those 15 points.
NZD/USD dropped to around 0.8740 after the release of lower business confidence and a higher government deficit, but came back relatively smoothly to crack overnight highs before settling just under 0.8770 (as of writing).
AUD/USD drifted higher in the early going ahead of key business confidence dat, jumping on the slightly improved data to test toward but not at 0.9400. It then settled around 0.9385 (as of writing).
Gold tested 1320 but didn’t sustain there.coming back a buck and half or so. Oil was relatively flat on the session.
