ForexLive Asia FX news wrap: Australia data beat, weak RBA jawbone helps AUD

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Friday 4 August 2017

We saw some small movement here in Asia despite it being a pre-NFP session.

Japanese data kicked off the calendar with a dreadful miss for June wages data (previous months had been on the improve so there is that ... but today's result was a shocker). USD/JPY, as is often the case (mostly) had little impact response but it has managed to tick a few points off its session lows of under 110.

Eyes (and ears) were also on US President Trump addressing a rally in the US evening, but there was little notable and no financial-market related headlines.

Next on the data event timetable was Australian retail sales and the simultaneous release of the RBA's once-a-quarter Statement on Monetary Policy.

AUD/USD had traded a few points to the better after the US close and then lost 20+ points going into the data/RBA. The range has stayed small but it has managed to eke out a fresh high for the session above 0.7970 (briefly ) since the data/RBA hit. AUD is generally up on its crosses also, AUD/NZD buyers have been active (NZD/USD is on it session lows - albeit a small range also - as I update.)

EUR/USD, little to say - its been in a 15 point range or so (if that?). USD/CHF, ditto on the session and even cable has flatlined after its busy UK session.

Gold has lost a few cents net - not much in it all either.

Still to come: