Session recap: German news the highlight of the Asian session

FXstreet.com (Barcelona) - A “return to normal” for the AUD and JPY was overshadowed by EUR-bullish news out of Germany during the Wednesday Asian session.

German officials kiss and make-up and the Aussie and Yen resume their bearish ways

Wednesday’s Asian session saw a return to “normal” (relative to recent trends) with the Aussie dollar and the Yen trading convincingly lower again after a brief respite Tuesday. Meanwhile, the big news of the session actually came out of Europe where German politicians apparently decided to play nice with one another – and announced it to the world during the Asian session.

New Zealand data comes out stronger-than-expected

New Zealand’s Trade Balance data came out better than was expected Wednesday, but the Kiwi did not move much on a net basis after several hours of post-data trading.

Main headlines in Asia:

BoJ struggles to boost confidence on inflation targets

AUD/USD falters after bouncing early Tuesday; starts Wednesday off in the red

EUR/USD on verge of more bullish pattern; a close above 1.3578 is needed

USD/JPY trading a bit higher Wednesday after posting a bearish reversal candle Tuesday

Merkel and SPD reach coalition accord

EUR/JPY back above Fibonacci projection at 137.90 on German political agreement