Forex news for Asia trading Wednesday 3 June 2015

Australian GDP today:


A few wiggles in the currencies today, but the AUD was a star performer, gaining more after its surge yesterday and overnight.

The headline on the Q1 GDP was +0.9% q/q and +2.3% y/y, far better than the +0.7% and +2.1% consensus median expectations. The market response was to immediately mark the currency higher, to 0.7810 before a further gain toward 0.7820. It wasn't long, though, until AUD/USD slipped back below the figure as details of the data were digested.

NZD/USD jumped along with the AUD after drifting lower beforehand. Its high was limited to what it managed in the overnight, its mid-range as I update.

EUR, CHF, GBP all had small ranges, and are all barely changed from late NY levels.

USD/JPY, too, did not have a large range, as high as 124.25 (or thereabouts) in the Tokyo morning before a dip under 124 (123.85 bids holding) and back up above the figure as I update.

Oil dropped on the API data release late in the US afternoon and didn't recover to any significant degree at all. But, not a big range for it. Gold edged higher initially before slipping a little lower than its late US level.

Still to come!