Market Overview

ForexLive Asian Market Wrap


Very quiet in Asia ahead of ECB and BOE policy meetings
BOE seen as 50:50 on new round of QE
ECB expected to adopt special measures rather than rate cuts
Regional stockmarkets rally by up to 4.5%
Oil $79.50/bbl; Gold $1647/oz
Apple founder Steve Jobs dies

The session was only notable for the announcement of the passing of Apple founder Steve Jobs, who died after a long illness.

Stockmarkets were not affected by the news, with all sectors higher across the region. The Hang Seng was up by almost 4.5% and the Kospi gaine 4%.

EUR/USD spent the entire first half of the session trading in a 10 pip range around 1.3350 and slipped briefly after lunch when the USD/Asia pairs moved higher. This move was short-lived and after bottoming at 1.3318, the pair has now flatlined again near 1.3335. Ranges: 1.3318/64

The NZD/USD did see some minor volatility in early trade, moving higher towards .7680 and this gave the AUD/USD a modest lift. Strong sell orders at .9700 are dissuading bullish momentum for now, and the AUD/USD fell back as USD/Asia moved higher. Ranges: .9617/63

USD/CHF .9215/55; USD/JPY 76.67/85; Cable 1.5417/75

Originally posted at Forex Live.

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


Related Articles

View Comments and Join the Discussion!

Posted-In: Asian marketsForex Global Markets