3 Feb 2014
Asia Recap: Yen weaker, China PMI non-event
FXstreet.com (Barcelona) - Few moves to report in Asia, with the lack of risk headlines together with Chinese markets closed due to new year celebrations, not providing much incentives to cheer up currencies in the Asian continent.
USD/JPY was gain well protected by buying interest at the 102.00 handle, rebounding towards 102.40, despite the poor Nikkei performance, down 1.2% today, in what seems to be a bit of a disconnect in the usual correlation.
AUD/USD traded in a tight range as the consolidation near trend lows extends. News of a 6-month low in the Chinese PMI over the weekend - in line with expectations (50.5) - failed to act as a catalyst to move the AUD. The first RBA monetary policy of the year 2014 takes place tomorrow, with the focus on whether or not they will soften its tightening rhetoric. AUD ignored lower-than-expected building approvals, inflation expectations and China Non-manufacturing PMI data.
The New Zealand Dollar, after a major technical breakout last Friday, has been picking up for a potential retest of support-turned-resistance around 0.8130/40. The key event for the Kiwi this week comes on Wed, with the release of the NZ jobs data.
Main headlines in Asia
CTA and Specs show sharp position adjustments - TDS
China PMI comes at 6-month low
Australian PMI contracts for a third consecutive month
Germany preparing third financial rescue for Greece
RBA may create upside risk for the rates outlook - RBS
Aust; TD Securities Jan Inflation rose 0.1% m/m vs 0.7% prior
Australian building permits slow down in Dec
Upside risks to New Zealand jobs on Wed - BNZ
China Non-manufacturing PMI declines to 53.4 in January from 54.6
NZ Treasury: RBNZ widely expected to hike rates in March
USD/JPY was gain well protected by buying interest at the 102.00 handle, rebounding towards 102.40, despite the poor Nikkei performance, down 1.2% today, in what seems to be a bit of a disconnect in the usual correlation.
AUD/USD traded in a tight range as the consolidation near trend lows extends. News of a 6-month low in the Chinese PMI over the weekend - in line with expectations (50.5) - failed to act as a catalyst to move the AUD. The first RBA monetary policy of the year 2014 takes place tomorrow, with the focus on whether or not they will soften its tightening rhetoric. AUD ignored lower-than-expected building approvals, inflation expectations and China Non-manufacturing PMI data.
The New Zealand Dollar, after a major technical breakout last Friday, has been picking up for a potential retest of support-turned-resistance around 0.8130/40. The key event for the Kiwi this week comes on Wed, with the release of the NZ jobs data.
Main headlines in Asia
CTA and Specs show sharp position adjustments - TDS
China PMI comes at 6-month low
Australian PMI contracts for a third consecutive month
Germany preparing third financial rescue for Greece
RBA may create upside risk for the rates outlook - RBS
Aust; TD Securities Jan Inflation rose 0.1% m/m vs 0.7% prior
Australian building permits slow down in Dec
Upside risks to New Zealand jobs on Wed - BNZ
China Non-manufacturing PMI declines to 53.4 in January from 54.6
NZ Treasury: RBNZ widely expected to hike rates in March