2 Jul 2013
Session Recap: USD treading water around 83.00; RBA leaves rates on hold
FXstreet.com (Barcelona) - The USD index has barely moved in the Asian session, moving last 24 hours nearby the 83 round handle of the spot index DXY. EUR/USD is last around 1.3060, while GBP/USD is trading around session lows slightly above the 1.52 mark.
Most of the moves has come from the Aussie that trades last at 0.9181 off recent session lows at 0.9166 printed on the back of latest RBA statement leaving rates on hold at 2.75%. USD/JPY in the other hand has sprinted to session highs last at 99.72, with Nikkei index up +1.08% for the day so far, supporting recent Yen weakness.
Other local share markets show mixed signs with China mainland in the red along with Korean Kospi, while Australian ASX is up the most in the region with a +1.86% increase. Apart from the main theme of the session with RBA holding rates, Japan disappointed with latest monetary base data only rising +36% y/y when market was expecting a +41.2% as previously promised by the BoJ.
Main headlines in the Asian session:
Moody’s: The Cyprus debt exchange amounts to a default
Feldstein: The Fed should start to ‘taper’ now
Japan Monetary Base (YoY) up to 36% in June from 31.6%
Japan’s economy minister Amari: Japan’s real economy is improving
NZ PM Key: Would prefer RBNZ would use macro prudential tools rather than raise rates
British Chambers of Commerce: Balance of UK exports for services “the highest since 1989″
RBA on hold: retains dovish rhetoric, AUD still too high
Most of the moves has come from the Aussie that trades last at 0.9181 off recent session lows at 0.9166 printed on the back of latest RBA statement leaving rates on hold at 2.75%. USD/JPY in the other hand has sprinted to session highs last at 99.72, with Nikkei index up +1.08% for the day so far, supporting recent Yen weakness.
Other local share markets show mixed signs with China mainland in the red along with Korean Kospi, while Australian ASX is up the most in the region with a +1.86% increase. Apart from the main theme of the session with RBA holding rates, Japan disappointed with latest monetary base data only rising +36% y/y when market was expecting a +41.2% as previously promised by the BoJ.
Main headlines in the Asian session:
Moody’s: The Cyprus debt exchange amounts to a default
Feldstein: The Fed should start to ‘taper’ now
Japan Monetary Base (YoY) up to 36% in June from 31.6%
Japan’s economy minister Amari: Japan’s real economy is improving
NZ PM Key: Would prefer RBNZ would use macro prudential tools rather than raise rates
British Chambers of Commerce: Balance of UK exports for services “the highest since 1989″
RBA on hold: retains dovish rhetoric, AUD still too high