24 Jun 2014
Asia Recap: Tight FX ranges prevail
FXStreet (Bali) - The Asian session developed in very slow motion, with tight ranges prevailing, and a light calendar not helping the case for a potential unravel of the uninspiring 10-20 pips moves.
AUD/USD was well capped by resistance at 0.9430, with the mild bid tone not being enough to regain the critical resistance level 9330/40 ahead of 9460. USD/JPY remained stuck in a tiny range just below 102.00, while EUR/USD saw most its trading develop just below the round number 1.36. NZD/USD kept 0.87.
On the fundamental front, RBNZ’s Bascand crossed the wires saying that loan restrictions are having the expected impact. In Australia, the ANZ weekly consumer sentiment came at +2.4% to 105.7, while RBA’s Edwards said the gradual wind down of the mining boom will not be as bad as feared. In China, the Conference Board May Leading Economic Index stood at +0.7%.
AUD/USD was well capped by resistance at 0.9430, with the mild bid tone not being enough to regain the critical resistance level 9330/40 ahead of 9460. USD/JPY remained stuck in a tiny range just below 102.00, while EUR/USD saw most its trading develop just below the round number 1.36. NZD/USD kept 0.87.
On the fundamental front, RBNZ’s Bascand crossed the wires saying that loan restrictions are having the expected impact. In Australia, the ANZ weekly consumer sentiment came at +2.4% to 105.7, while RBA’s Edwards said the gradual wind down of the mining boom will not be as bad as feared. In China, the Conference Board May Leading Economic Index stood at +0.7%.