14 May 2014
Asia Recap: AUD/USD's one-way traffic meets 0.94
FXStreet (Bali) - The Australian and New Zealand Dollars were the top performers in Asia, with the Japanese Yen trading in a much more muted tone ahead of Europe.
AUD/USD opened at 0.9360 following the bounce of the daily kijun line on Tuesday, with AUD positive flows being predominant in Asia, in which the pair caught what is up to this point an unperturbed bidding tone, taking the rate just a whisker away from 0.94. With regards to the NZD/USD, it initially dipped to 0.8610 before rising towards the 0.8660 handle, with Tuesday's 0.8669 now in sight. Meanwhile, USD/JPY saw a tight consolidation around 102.20, while EUR/USD and GBP/USD managed to see a rebound off respective strong support areas, with the Pound's bounce having more momentum behind.
The economic calendar in Asia only brought some limited early excitement out of New Zealand, after the RBNZ published the financial stability report, noting that LVR limits to stay at least until late 2014. In the press conference following the publication of the RBNZ report, Governor Wheeler said that "rate rises will help damp house price inflation." Also in New Zealand, retail sales came softer-than-expected in Q1, at 0.7% vs 0.9% expected and 1.2% last.
Main headlines in Asia
RBNZ report: LVR limits to stay at least until late 2014
RBNZ: Possible will phase out LVR limits rather than remove at once
RBNZ's Wheeler: Rate rises will help damp house price inflation
New Zealand Retail Sales (QoQ) missed forecasts (0.9%) in 1Q: Actual (0.7%)
Australian budget to drag growth down - Nomura
Japan Domestic Corporate Goods Price Index (MoM) in line with forecasts (2.8%) in April
RBNZ's Wheeler: NZD carry trade quite strong
AUD/USD opened at 0.9360 following the bounce of the daily kijun line on Tuesday, with AUD positive flows being predominant in Asia, in which the pair caught what is up to this point an unperturbed bidding tone, taking the rate just a whisker away from 0.94. With regards to the NZD/USD, it initially dipped to 0.8610 before rising towards the 0.8660 handle, with Tuesday's 0.8669 now in sight. Meanwhile, USD/JPY saw a tight consolidation around 102.20, while EUR/USD and GBP/USD managed to see a rebound off respective strong support areas, with the Pound's bounce having more momentum behind.
The economic calendar in Asia only brought some limited early excitement out of New Zealand, after the RBNZ published the financial stability report, noting that LVR limits to stay at least until late 2014. In the press conference following the publication of the RBNZ report, Governor Wheeler said that "rate rises will help damp house price inflation." Also in New Zealand, retail sales came softer-than-expected in Q1, at 0.7% vs 0.9% expected and 1.2% last.
Main headlines in Asia
RBNZ report: LVR limits to stay at least until late 2014
RBNZ: Possible will phase out LVR limits rather than remove at once
RBNZ's Wheeler: Rate rises will help damp house price inflation
New Zealand Retail Sales (QoQ) missed forecasts (0.9%) in 1Q: Actual (0.7%)
Australian budget to drag growth down - Nomura
Japan Domestic Corporate Goods Price Index (MoM) in line with forecasts (2.8%) in April
RBNZ's Wheeler: NZD carry trade quite strong