The Aussie exacerbated its pain, and with no time to lick its Tuesday’s wounds, the currency got further bruises in Asia, with the lack of any bounce quite shocking.
Early in Asia, at the test of 0.8950/60, the AUD/USD market showed some signs of life, yet that hope proved short-lived as a higher-than-expected USD/CNY fix coupled with a miss in Chinese new loans was the perfect excuse to start unloading AUDs, with the lowest of the session in Asia afternoon recorded at 0.8910. The market has almost fully completed the unwinding of all Friday NFP-driven longs, clear disconcerting signs for the Aussie.
As per the Yen, negative flows were retained, with gains above 2% in the Nikkei 225 underpinning the heavy tone. Gotobi demand (USD/JPY) into the Tokyo fix (00.50GMT) was quite strong, with further shorts running to the exits. Market sources report large 105.00, 105.50 vanilla option expirations at the NY cut today, which may act as a magnet for further Yen depreciation.
In Asia, unusually large swing against the likes of the Canadian Dollar and Swiss Franc were also noted. Meanwhile, the Euro also traded weaker against the USD after stops were tripped below 1.3650, while the Pound kept a tighter range. Lastly, the New Zealand Dollar, while lower against the USD, kept its act together for the most part, limiting its losses to 0.8330.
Kewords: Forex Currency Trading, Forex Forecast, Forex Learn Trading, Forex Mini, Forex Mini Account, Forex Mini Trading, Forex Trading, Forex Trading Platform, Forex Trading Software, Forex Market, Forex Strategy, Forex Signal, Forex Forum, Forex News, chicbull.com
No comments:
Post a Comment