ForexLive Asia FX news wrap: Japan economy downgrade? China data.

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Thursday 14 March 2019

The US afternoon saw more Brexit headlines flowing through, sending cable on a surge even after its strong Europe/UK/US session, topping out above 1.3370. GBP/USD subsided as the session opened in Tokyo then Singapore and Hong Kong, coming back to under 1.3250 and just above there as I post.

Forex news for Asia trading Thursday 14 March 2019

Check the bullets above for how Brexit unfolded further here in the early hours (before the news flow dried up as the exhausted Brits hit the sack).

The Australian dollar was also (less of) a mover, dropping away ahead of the data from China today. The data was a mixed result, industrial output for (combined Jan-Feb) hit its lowest in 17 years, but retail sales was a bit better, while investment showed some stronger results in pockets (see bullets above). Upon the data release the AUD didn't do too much but as I update its beginning to drip a little lower for the session again.

USD/JPY gained pretty much throughout the session, topping out just over 111.60. Reports in Japanese media that the government is looking at downgrading its assessment of the economy (see bullets above) was a negative for the yen today. Note - the BOJ statement is due Friday (Japan time) and the spoiler is there is no change expected, but previews here:

EUR/USD is little changed net for the day here. 

Still to come:

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