Forex trading headlines for Asia Monday 18 August 2014



A decent gap up on the New Zealand opening this Monday for GBP on the back of remarks from Bank of England governor Carney reported over the weekend (see bullets, above). It retraced some if its earlier highs but found buyers ahead of 1.6710 and went on to slowly grind higher and retests toward earlier highs (New Zealand morning high seen was around 1.6839).

There were minor gaps higher for the USD against EUR and CHF, really nothing much to speak of and they were covered before spending the session mainly sideways.

Yen opened a little stronger (just a small gap) before USD/JPY too covered its gap and gained ground above 102.40 (but not by much). This wasn’t sustained, though, USD/JPY drifting off 15 or so points. EUR/JPY had a subdued range.

Oil and gold both had subdued ranges.

AUD and NZD were a little more active. AUD chopped in a 15-odd point range against the USD, while the NZD managed a better performance for the session, losing ground early but rallying back 25 points from 0.8475 lows thorough the afternoon.