• The Japanese markets not opened for Greenery Day holiday

• The Australia’s new vehicle purchases up increases by 7.2% (y/y) in April

• The Australia’s AIG performance of services increases from 49.5 to 49.7

• The U.K. BRC shop expenditure ratio decreases by 0.3% (1.7% y/y)

• New Zealand’s ANZ commodity costs decreases by 0.8% vs. 1.3% decrease forecast

With our Japanese colleagues still out on a holiday,the Asian period of forex traders generally lengthened the moves from the U.S. period.

The Major Incidents:

Overall risk aversion – With the Japan’s markets closed on a holiday, Asian period of forex traders generally lengthened the moves from the U.S. period. Tumbling oil costs from yesterday as well as fresh worldwide progress concerns pulled on the higher-yielding currencies and moved the Greenback above.
The Australia’s ASX missed its post-RBA ratio cut glimmer and is now decreased by 1.55% while the Shanghai indicator is decreased by 0.06% and Hang Seng is declined by 0.68%.

New Zealand’s employment release – The New Zealand’s employment report printed diverse results for forex traders. The headline rise of 1.2% for Q1 2016 and the uptick in the labor price ratio was offset by the increase in the unemployment ratio from 5.4% to 5.7%. The Kiwi ended up decreasing across the panel after a brief spike higher when the data was announced.

The Main Currency Movers:

USD – Thanks to comprehensive risk aversion, the low-yielding Greenback continued to bring profit against its main counterparts. EUR/USD decreased by 19 pips (-0.17%), GBP/USD shrinked 6 pips lower (-0.04%), and USD/CHF increased by 72 pips (-0.68%).

JPY – The yen bulls tried to stretch their muscles after the currency barbed lower at the beginning of the period. The bears gained the slight tug-o-pips though, and finally pulled the low-yielding yen lower beyond the board. Definitely, it might have assisted that the market bees had whispered about a potential interference from the BOJ.

USD/JPY is increased by 72 pips (+0.72%), EUR/JPY is increased by 62 pips (+0.51%), and GBP/JPY is increased by 109 pips (+0.70%).

NZD – The Kiwi originally rallied at the announcement of New Zealand’s employment reports, but quickly lost its footing as the period wore on.

NZD/USD is decreased by 29 pips (-0.42%), GBP/NZD is increased by 100

Today Forex Recap of Asian Trading Session

Mike N
Mike N

Financial Trading Systems Design Expert

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