Market Overview

ForexLive Asian Wrap: Quiet Session After the G7 Statement Circus

Australia Westpac Consumer Confidence +7.7% for February (Biggest jump since September 2011) – also a recap of the better confidence figures out of Australia over the past two days
Japan January Domestic CGPI +0.4% M/M (+0.2% expected)
Japan December Tertiary Industry Index +1.4% M/M (+0.7% was expected)
Obama gave his State of the Union address
Two speeches from Federal Reserve Regional Bank Heads; Richmond's Jeffrey Lacker  and Philadelphia's Charles Plosser had no impact on the FX markets
New Zealand's Finance Minister Bill English said there was very little his government could do about the high NZD
Barclays were reported as saying the G7 statement may limit the options available to the BOJ in conducting monetary policy

It was a very quiet day in the currencies after the G7-inspired Circus overnight. AUD/USD traded higher from around 1.0305/10 after the release of the much better than expected Westpac Consumer Sentiment figures, trading through stops around 1.0330/35 before tracking sideways and then through 1.0450 in the hunt for more stops in the afternoon.

EUR/USD was dead in a 10 point range.

USD/JPY had a quiet session but stayed heavy all day, falling from around 93.30 to 93.00 and then chased stop loss sellers to below 92.90.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets Trading Ideas

 

Most Popular

Related Articles ()

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters