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29 May 2013
Session Recap: USD unchanged; IMF lowers China GDP forecast
FXstreet.com (Barcelona) - Little changes in the Asian markets since the NY close despite the ups and downs, with USD index at exact same level it was back then at around the 84.26. AUD/USD broke to fresh 2-year lows at 0.9546, last at 0.9555, and EUR/USD posted fresh weekly lows at 1.2840, trading last at 1.2855.
Yen first weakened in early Tokyo but continues to be offered at the double high for the week at 102.51, and turned lower from there to session lows barely above the 102 handle, just to end at around 102.29 last, same level it started at 8 hours ago. Nikkei index is up +0.84%, with Japan retail sales improving month on month, though still in the negative in a yearly basis, down -0.1%, better than the -0.4% expected.
All data for Australia, mostly construction and housing related, showed worse figures than expected, helping the selling case for Aussie, although ASX index remained in the positive, up +0.24% for the day. The IMF lowered China growth forecast for 2013, which also weighed on the Aussie.
Main headlines in the Asian Session:
AUD/NZD off fresh 4-year lows below 1.19
EUR/AUD advances once again capped below 1.3450
GBP/JPY able to claw back some losses, resistance at 154.50 still in focus
Japan Apr Retail Trade s.a (MoM) increase to 0.7% vs -1.5%
USD/JPY offered at 102.50
Australia Westpac Leading Index (MoM) declines to 0.2% in Mar from 0.6%
Commodities Brief: Precious metals setting up for another leg down?
Australia HIA New Home Sales (MoM) down to 3.9% in Apr from 4.2%
Australia 1Q Construction Work Done down to -2% vs 0.1%
AUD/USD break of 0.9590 reveals new downside potential
IMF: Lowers China growth to 7.75% from 8% in 2013
AUD/JPY continues to find firm bids near 97.00
EUR/USD technical picture continues to sour, more declines to come?
Yen first weakened in early Tokyo but continues to be offered at the double high for the week at 102.51, and turned lower from there to session lows barely above the 102 handle, just to end at around 102.29 last, same level it started at 8 hours ago. Nikkei index is up +0.84%, with Japan retail sales improving month on month, though still in the negative in a yearly basis, down -0.1%, better than the -0.4% expected.
All data for Australia, mostly construction and housing related, showed worse figures than expected, helping the selling case for Aussie, although ASX index remained in the positive, up +0.24% for the day. The IMF lowered China growth forecast for 2013, which also weighed on the Aussie.
Main headlines in the Asian Session:
AUD/NZD off fresh 4-year lows below 1.19
EUR/AUD advances once again capped below 1.3450
GBP/JPY able to claw back some losses, resistance at 154.50 still in focus
Japan Apr Retail Trade s.a (MoM) increase to 0.7% vs -1.5%
USD/JPY offered at 102.50
Australia Westpac Leading Index (MoM) declines to 0.2% in Mar from 0.6%
Commodities Brief: Precious metals setting up for another leg down?
Australia HIA New Home Sales (MoM) down to 3.9% in Apr from 4.2%
Australia 1Q Construction Work Done down to -2% vs 0.1%
AUD/USD break of 0.9590 reveals new downside potential
IMF: Lowers China growth to 7.75% from 8% in 2013
AUD/JPY continues to find firm bids near 97.00
EUR/USD technical picture continues to sour, more declines to come?