- Australian unemployment rate remains at 5%
- Australian economy added 25,000 new jobs, slightly better than expected
- Japan’s machine orders snap a 3-month fall
- Japan January CGPI +1.6% YoY
- USD/CNY mid-rate at new record low of 6.5849
- Ex-MPC members say that they would hike UK rates
- Shanghai stocks +0.75%, HK -0.75%, Seoul -1.2%
- Gold $1364/oz, Oil $87/bbl
The AUD has been the main mover in Asia with the jobs data bringing some volatility into the market. AUD/USD traded around 1.0110 prior to the number and then spiked after the better-than-expected data. It immediately fell thereafter giving the impression of a market that was overly long. Ranges: AUD/USD 1.0070/1.0126
USD/JPY has traded it’s usual 25 pip range in Asia, 82.34/59, with cross flows having the maion effect.
The GBP got a lift from some GBP/JPY buying early in the Tokyo session and it has generally moved slightly higher on the crosses ahead of tonight’s rate decision. Ranges: Cable 1.6087/1.6110, EUR/GBP .8509/30
EUR/USD has managed to trigger weak trailing stops below 1.3700 late in the session but it has been an uneventful and news-free session for the single currency. Ranges: EUR/USD 1.3696/1.3735, EUR/GBP .8509/30.