27 Jun 2013
Session Recap: Commodity currencies reverse; Euro higher on banking pre-deal
FXstreet.com (Barcelona) - The USD has stalled against major rivals with EUR/USD posting fresh session highs at 1.3035 on the back of a pre-deal reached in Brussels about banking resolution rules, while AUD/USD and NZD/USD also posted fresh session highs following better news coming out of China and NZ despite disappointing trade balance figures in the latter.
Gold and Oil rallied to fresh session highs with Gold now retracing part of the gains last at $1236, while Oil stays close to the $96 mark. Local share markets all posted big gains, led by Korea, Australia and Japan, each above the 2% advance. US SP500 futures recovered previous NY session highs too.
New Zealand trade balance showed a much smaller figure than expected with both imports and exports disappointing, although posted a better than expected ANZ biz confidence at the highest in last 14 years. Good news also coming out of China with industrial profits rising 12.3%. In the other hand ruling party in Australia changed leadership, although it did not have much of a negative impact in the local currency.
Main headlines in the Asian Session:
Flash: Concern mounts in China over liquidity – Deutsche Bank
New Zealand trade figures disappoint
EU FinMin reach deal on bank resolution rules
Commodities Brief – Commodities stalling the fall
New Australian PM officially sworn in, but what we really need to hear is confirmation of the election date
USD/JPY unable to overcome the 98 handle so far
Japan sold 1,187.5 bln Yen of foreign bonds
EUR/USD ticking higher post bank bail-in deal
Big jump in New Zealand Business Confidence and Outlook indices
China’s Industrial profits rise to 12.3%
Gold and Oil rallied to fresh session highs with Gold now retracing part of the gains last at $1236, while Oil stays close to the $96 mark. Local share markets all posted big gains, led by Korea, Australia and Japan, each above the 2% advance. US SP500 futures recovered previous NY session highs too.
New Zealand trade balance showed a much smaller figure than expected with both imports and exports disappointing, although posted a better than expected ANZ biz confidence at the highest in last 14 years. Good news also coming out of China with industrial profits rising 12.3%. In the other hand ruling party in Australia changed leadership, although it did not have much of a negative impact in the local currency.
Main headlines in the Asian Session:
Flash: Concern mounts in China over liquidity – Deutsche Bank
New Zealand trade figures disappoint
EU FinMin reach deal on bank resolution rules
Commodities Brief – Commodities stalling the fall
New Australian PM officially sworn in, but what we really need to hear is confirmation of the election date
USD/JPY unable to overcome the 98 handle so far
Japan sold 1,187.5 bln Yen of foreign bonds
EUR/USD ticking higher post bank bail-in deal
Big jump in New Zealand Business Confidence and Outlook indices
China’s Industrial profits rise to 12.3%