ForexLive Asia FX news wrap: Trump proposes more meetings on wall

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 9 January 2019

The most awaited event of the session was the US president's address from the Oval office. It turned out to be not such a big deal at all, the only thing Trump proposed was even more meetings on the wall. Forex response was minimal.

Otherwise the day was not too quiet for an Asian session. An early bit of USD weakness nearly across the board, with AUD/USD a rapid gainer as some stop-loss buying triggered above the overnight high circa 0.7140-odd. GBP, EUR, NZD all gained too.

Over the course of the session though the CAD was a star. Oil prices moved higher which did the CAD no harm. USD/CAD is down around 50 points for the session as I update.

USD/JPY has bucked the weaker USD in Asia, gaining towards but not piercing 109.

As for data, we had a huge miss for Australian building approvals. This indicator had been trending down and today it dropped hard even further. Job vacancy data (not as much a focus) hit an all-time high.

From Japan we had wages data, real wage gains at their best in five months.

Still to come:

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