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20 Dec 2013
Session recap: Sleepy session caps off volatile week in currency land
FXstreet.com (Barcelona) - This Asian session has reverted back to the quiet trading that we saw pre-FOMC earlier this week. The biggest mover in the major currency group is the Yen and it is only 0.25% in the red as this is being typed. Of course, that comes after a 1% + move on Thursday following the Fed’s tapering news.
Asian session data releases and key reactions:
• British Consumer Confidence came out worse than expected; the news took the Pound down, then up, but now it is headed back to the downside.
• Bank of Japan interest rate decision and accompanying comments were released. The BOJ left rates unchanged and made very little in the way of market moving announcements in their commentary. Perhaps it was the lack of new information and / or comments, but the Yen has started to accelerate to the downside again Friday after the headlines made the rounds. The Yen futures have broken down below key “correction support” and are now clearly in a downtrend – and a Friday close at or below current levels will confirm that fact.
Main headlines in Asia:
DXY trading above 80.53 resistance but needs to close above it to give bulls’ victory
EUR/USD getting slammed over the last several days. ST correction or something more serious?
Gold flirting with year lows, taper weighs
China rates ease post PBoC SLOs
BoJ keeps policy steady, retains easing operations
Asian session data releases and key reactions:
• British Consumer Confidence came out worse than expected; the news took the Pound down, then up, but now it is headed back to the downside.
• Bank of Japan interest rate decision and accompanying comments were released. The BOJ left rates unchanged and made very little in the way of market moving announcements in their commentary. Perhaps it was the lack of new information and / or comments, but the Yen has started to accelerate to the downside again Friday after the headlines made the rounds. The Yen futures have broken down below key “correction support” and are now clearly in a downtrend – and a Friday close at or below current levels will confirm that fact.
Main headlines in Asia:
DXY trading above 80.53 resistance but needs to close above it to give bulls’ victory
EUR/USD getting slammed over the last several days. ST correction or something more serious?
Gold flirting with year lows, taper weighs
China rates ease post PBoC SLOs
BoJ keeps policy steady, retains easing operations