Forex news for Asia trading Wednesday 22 October 2014

USD/JPY found an early high above 107. but spent the balance of the session dribbling a little lower. A very slight gain in the EUR/USD was enough to keep EUR/JPY narrowly tracking sideways. Cable, too, drifted slightly north, as the market awaited the MPC Minutes today.

NZD and AUD also mainly drifted higher in the session today. the AUD had a bit of a wobble on the release of Q3 CPI data, plunging below 0.8750 and jumping back up again nearly as quickly. The data confirmed the inflation outllok in Australia as benign (with the exception of housing – (see bullets, above)).

Oil and gold pretty much laid out a sideways track during the session too.

USD/CAD was barely changed ahead of the Polozoctomy coming up in the America’s session tonight (Preview: Bank of Canada decision could confuse and Forex Technical Analysis. A preview of the key levels for the USDCAD)