20 Jan 2014
Asia Recap: AUD takes a breather post China Q4 GDP
FXstreet.com (Bali) - The Australian Dollar was able to breathe a sigh of relief after the Chinese GDP data.
The Aussie saw some upside momentum post the dump of Chinese data, including a slightly above expectations Q4 GDP (7.6% vs 7.5% exp), while the rest of indicators (IP, retail sales, FAI) for Dec came mostly as expected. As the session unfolded, the test of 0.88 was a peak too high to climb, resulting on a retreat towards 0.8780.
The New Zealand Dollar, on the contrary, had a worse tone than its Aussie peer for the session, with news of an earthquake of 6.1 magnitude in the lower north island - no major consequences were reported - giving the currency a brief scare and keeping it heavy.
The Japanese Yen was well bid along the first half of the session, although it failed to sustain most of its gains post Japan's mid morning break, allowing a decent recovery off lows in Yen crosses. The Nikkei 225, down over 1% at one point, pared half its losses and was a major factor helping lift the Yen crosses complex.
The Euro was well offered in the first part of the Asian session, approaching bids near 1.24 against the US Dollar, yet lack of follow through on thin liquidity saw the exchange revering ahead of Europe. The Pound, Canadian Dollar and Swiss Franc all kept tight ranges.
Main headlines in Asia
China December House Price Index flat at 9.9%
Nikkei 225 futures: Needs to regain 16,000 for Yen crosses to firm up
Australia December TD Securities Inflation (YoY) increase to 2.7% vs 2.4%
China's Q4 GDP satisfies market expectations
China Industrial Production (YoY) decreases to 9.7% in December from 10%
China Retail Sales (YoY) 13.6% in December
PBoC signals tightening bias again
New Zealand: Eartquake with initial magnitude of 6.3 recorded on New Zealand's north island
Japan November Industrial Production (YoY) 4.8%
The Aussie saw some upside momentum post the dump of Chinese data, including a slightly above expectations Q4 GDP (7.6% vs 7.5% exp), while the rest of indicators (IP, retail sales, FAI) for Dec came mostly as expected. As the session unfolded, the test of 0.88 was a peak too high to climb, resulting on a retreat towards 0.8780.
The New Zealand Dollar, on the contrary, had a worse tone than its Aussie peer for the session, with news of an earthquake of 6.1 magnitude in the lower north island - no major consequences were reported - giving the currency a brief scare and keeping it heavy.
The Japanese Yen was well bid along the first half of the session, although it failed to sustain most of its gains post Japan's mid morning break, allowing a decent recovery off lows in Yen crosses. The Nikkei 225, down over 1% at one point, pared half its losses and was a major factor helping lift the Yen crosses complex.
The Euro was well offered in the first part of the Asian session, approaching bids near 1.24 against the US Dollar, yet lack of follow through on thin liquidity saw the exchange revering ahead of Europe. The Pound, Canadian Dollar and Swiss Franc all kept tight ranges.
Main headlines in Asia
China December House Price Index flat at 9.9%
Nikkei 225 futures: Needs to regain 16,000 for Yen crosses to firm up
Australia December TD Securities Inflation (YoY) increase to 2.7% vs 2.4%
China's Q4 GDP satisfies market expectations
China Industrial Production (YoY) decreases to 9.7% in December from 10%
China Retail Sales (YoY) 13.6% in December
PBoC signals tightening bias again
New Zealand: Eartquake with initial magnitude of 6.3 recorded on New Zealand's north island
Japan November Industrial Production (YoY) 4.8%