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18 Sep 2014
Asia Recap: Focus shifted to Scottish vote
FXStreet (Bali) - Following the strong bullish USD run once the FOMC risk event got out of the way, Asia saw G10 currencies consolidating, with the focus being totally shifted to Scotland and the Pound.
Asia offered limited consolidation moves, with AUD/USD correcting higher towards 0.8960/70 from 0.8940 lows. NZD/USD was glued around 0.81. USD/JPY kept making new highs, well en-route towards 109.00 and beyond, with highest in Asia at 108.70. EUR/USD inched slightly hgher to 1.2860 from 1.2832. GBP/USD gave back some of its gains to establish at 1.6265/70.
On the fundamental front, the latest Scottish polls ahead of the official votes later today, indicate the No still leasing by a narrow margin. In New Zealand, the second quarter Q2 GDP came slightly better-than-estimates at +0.7% q/q vs +0.6% expected. In Japan, trade balance for August came at Y -948.5bn (expected vs Y -1028.9bn expected. In China, house price kept weakening, coming at +0.5% y/y vs +2.5% in July. In Australia, terror raids were carried out across Sydney and other cities.
Asia offered limited consolidation moves, with AUD/USD correcting higher towards 0.8960/70 from 0.8940 lows. NZD/USD was glued around 0.81. USD/JPY kept making new highs, well en-route towards 109.00 and beyond, with highest in Asia at 108.70. EUR/USD inched slightly hgher to 1.2860 from 1.2832. GBP/USD gave back some of its gains to establish at 1.6265/70.
On the fundamental front, the latest Scottish polls ahead of the official votes later today, indicate the No still leasing by a narrow margin. In New Zealand, the second quarter Q2 GDP came slightly better-than-estimates at +0.7% q/q vs +0.6% expected. In Japan, trade balance for August came at Y -948.5bn (expected vs Y -1028.9bn expected. In China, house price kept weakening, coming at +0.5% y/y vs +2.5% in July. In Australia, terror raids were carried out across Sydney and other cities.