Forex news for Asia trading Thursday 29 January 2015

The early part of the session saw a lower NZD and AUD, with the policy meeting from the RBNZ resulting in a move away from their hawkish bias and more response to an overnight article in the Australian press saying an RBA rate hike next week is almost certain (even though it isn’t).

AUD and NZD barely recovered throughout the course of the rest of the session, and the AUD/USD is right on session lows as I complete the wrap. markets are now pricing in a circa 60% probability of an RBA rate cut on Tuesday.

USD/CHF traded higher during the day, up just more than 70 points from earlier lows. EUR/USD and GBP/USD both ticked a little higher, but not by much at all and both are at session lows (below earlier lows) (as of writing).

USD/JPY (and the Nikeei) are both higher, USD/JPY testing above 118.00 before stabilising just below. EUR/JPY net benefited on the day from the USD/JPY dragging it up.

Oil ticked a little higher, while gold lost just a few dollars.