Forex trading headlines for Asia Monday 02 June 2014



The Nikkei stock index in Japan hit an 8-week high today, and USD/JPY went along for the ride, trading a little higher to begin the week as it ticked above 102.00. Traders were happy that the China manufacturing PMI improved (data out over the weekend, see bullets, above).

Despite the better Chinese weekend data, though, the AUD/USD could not approach the highs it saw on Friday, drifting down a few points from the 0.9320 early high (hit in very low liquidity conditions prior to the Sydney opening with New Zealand markets closed for a holiday today). The release of the day’s major data point, April building approvals, showed the third consecutive drop in this series … and the AUD followed suit by dropping on the data print.

EUR, CHF and GBP softened during the session, but moves were not large. EUR/USD recovered somewhat from its lows, but Cable has barely managed to do so (as of writing).