The forex trading headlines for Asia trading today: Wednesday September 25, 2013
- New Zealand August trade balance: -1191m (vs. expected -700m)
- Japan Corporate Service Price index for August: +0.6% y/y (vs. +0.5% expected)
- Australia August DEEWR Skilled Vacancies +0.3% (vs. +0.7% prior)
- RBA Financial Stability Review September 2013 released to little market response, headline summary here and link to full text
- Japan’s chief cabinet secretary Suga: Economic package will not mean cutbacks on reconstruction
- China – private survey shows economy slowed this quarter, in contrast with official measures
NZD/USD the mover again today, but it didn’t fall with the same intensity as on Tuesday’s session. It broke through overnight lows on the back of the trade deficit data (see bullet, above) but found buyers around 0.8230. A bounce to the break level capped it and traded back to its lows and through them as of writing.
AUD/USD had a range-bound session, finding buying around 0.9375 and sellers ahead of 0.9395. Heading into early Europe it is revisiting its lows.
EUR/USD, GBP/USD and USD/CHF all had 15-point ranges more-or-less, a very quiet session following on from the relative calm in the US overnight. EUR, GBP and CHF all go into early Europe near their lows for the session, GBP the weakest.
USD/JPY had a very quiet morning, the only move being a 15-odd point drop to around 98.55, then settling around 98.60.
Nikkei down a fraction through the session, Asian equities broadly in the red.
Bonus reminder – its September 25, only 3 months ‘til Christmas!