Forex trading headlines for Asia Tuesday 14 October 2014

Coming up soon …

USD weakness early in the Asian morning, with EUR/USD a big over, popping up above 1.2760 and USD/JPY down through 107.00.

The moves were retraced to an extent, though, with EUR/USD back to around 1.2725 before stabilising and USD/JPY climbing back above 107.20 before it, too, stabilised. EUR/JPY was net a little stronger on the session.

GBP/USD didn’t climb nearly as much as the EUR did and it subsequently came bak to be only barely above the level it was when I walked in this morning.

AUD and NZD, too, were laggards, but more than made up for it. AUD/USD traded above 0.8800 and NZD above 0.7900 before both stabilised. That’s a good 50-60 odd points rally for both. The AUD rallying despite poorer NAB data and an RBA official saying it was still high (see bullets, above), short-covering,the actions of the People’s Bank of China (PBOC) (again, see bullets, above) and a better iron ore price all cited as reasons for its gain today.