13 May 2014
Asia Recap: JPY, AUD slightly weaker
FXStreet (Bali) - The Asian session on Tuesday was characterized by its slow consolidative moves, with the Yen and Aussie trading a tad softer.
AUD/USD opened at 0.9361 and drifted lower towards 0.9350 bids before a mild bounce ahead of the Australian budget and a dump of Chinese data at 5.30GMT. USD/JPY, meanwhile, extended gains to 102.26 from an open at 102.11, with the Yen weighed across the board by the Nikkei 225 strength, up over 2%.
On the fundamental front, New Zealand Food price index for April came at +0.6% m/m, the UK BRC April retail sales saw a +4.2% y/y vs +1.6% expected, while in Australia, March home loans stood at -0.9% m/m vs -1.5% expected. Focus during the London session will shift to the Australian annual budget. Westpac Strategists shared their thoughts over the possible outcome.
Main headlines in Asia
New Zealand Food Price Index (MoM) up to 0.6% in April from previous -0.3%
United Kingdom BRC Retail Sales Monitor - All (YoY) registered at 4.2% to beat expectations (1.8%) in April
Australian home loans softer
AUD/USD opened at 0.9361 and drifted lower towards 0.9350 bids before a mild bounce ahead of the Australian budget and a dump of Chinese data at 5.30GMT. USD/JPY, meanwhile, extended gains to 102.26 from an open at 102.11, with the Yen weighed across the board by the Nikkei 225 strength, up over 2%.
On the fundamental front, New Zealand Food price index for April came at +0.6% m/m, the UK BRC April retail sales saw a +4.2% y/y vs +1.6% expected, while in Australia, March home loans stood at -0.9% m/m vs -1.5% expected. Focus during the London session will shift to the Australian annual budget. Westpac Strategists shared their thoughts over the possible outcome.
Main headlines in Asia
New Zealand Food Price Index (MoM) up to 0.6% in April from previous -0.3%
United Kingdom BRC Retail Sales Monitor - All (YoY) registered at 4.2% to beat expectations (1.8%) in April
Australian home loans softer