ForexLive Asian market wrap: AUD rallies after strong employment data
Australian unemployment rate falls to 5.1%
Japan’s big manufacturers sentiment index +13.3, up from 10.0 in previous quarter
Japanese government meeting ends with usual talk about intervention but no concrete action plan
South Korea surprisingly leaves rates unchanged
China’s agricultural commodities fall heavily
Singapore Dollar reaches record levels against the USD, MAS seen buying USD/SGD
Regional stockmarkets +0.5% on average
The AUD has been the biggest mover on the day, moving higher across the board on stronger than expected employment data. Turnover was heavy above .9200 in the AUD/USD as AUD buying against all other majors helped to work through some good-sized sell orders. Ranges: AUD/USD .9172/.9235
USD/JPY moved higher in early trade as a stream of bullish sentiment passed through the interbank market. USD/JPY briefly traded above 84 and EUR/JPY closed in on 107 before the momentum waned. The lack of anything concrete from this morning’s government meeting also encouraged longs to bail out. Ranges: USD/JPY 83.67/87.02, EUR/JPY 106.45/94
EUR/USD has moved around with flows in EUR/JPY and it has also been impacted by EUR/AUD selling. Range: EUR/USD 1.2713/42, EUR/CHF 1.2863/97
Cable has been quiet in a 25 pip range and the cross has slid lower in line with EUR selling against the other majors. Ranges: Cable 1.5452/77, EUR/GBP .8221/39.
Markets: Nikkei +0.7%, HK +0.6%, Seoul flat, Shanghai -0.3%. Gold $1257/oz. Oil $74.50/bbl.
