Forex news for Asia trading Tuesday 30 June 2015

Asian Monday huge price gaps? What? Never happened.

At least you'd think so given the overnight retracements (and more) and then the comparatively subdued FX Asian session today.

EUR/USD drifted lower throughout, losing around 40 odd points from where I walked in. The paucity of Greek headlines during the Asian session contributing to the relative lack of much action. Late news was that the Greek government had rejected a last ditch effort from Juncker. I've also posted (see bullets, above) on an expected announcement from the US Labor department on Tuesday regarding a proposed boost to overtime payments. While its not a done deal, and there are arguments that it'll have little impact, it may have been a factor in the mild USD strength we had today. May.

USD/JPY had a 50 or so point move lower while GBP and CHF were much quieter, USD/CHF up about 35 points.

Chinese stock markets continued their wild swings, and its not over for the day there yet. Shanghai Comp is +5% from its day's lows as I update, which brings it a little higher on the session from opening levels. The CSI300 is 2% higher at the lunch break.

AUD/USD is barely changed from where I walked in, while the NZD/USD is a little weaker. NZD fell earlier on the back of a very weak business confidence data print. It tested briefly to just under 0.6800 and managed a 20+ point bounce as I update.

Gold is slighty lower, oil also.

Still to come ...