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27 Mar 2013
Session Recap: Thin ranges in Asia as Eastern nears, while wondering if Cyprus banks will open tomorrow
FXstreet.com (Barcelona) - An Asian session that had a very slow open, it started picking up steam once Shanghai and Hong-Kong opened, and USD broke marginally above the 83.00 round ask line in the index, presumably on some stops being triggered given very thin markets, which took USD/JPY to session highs around 94.90, EUR/USD and AUD/USD to session lows at 1.2837 and 1.0460 respectively.
Japan PM Abe had a speech before parliament, and once again repeated on the compromise to rise inflation to 2%, while noted recent weakness in Yen had helped improve economic conditions in the nation. Local share markets moved mostly higher over all, with Australian ASX index in the leading group posting +0.9% gains. Oil held above recent three day gains above the $95 mark, while Gold remained mostly unchanged barely below the $1600 handle.
As Eastern holidays get closer, with Australia and New Zealand closed over Friday, at the same time month and fiscal end for some, markets are getting thinner, which will translate in smaller trading ranges while there's liquidity around, and wild spikes as soon as this liquidity dries and some market players want to take advantage of such low volume conditions, which help moving markets with small relative amounts.
Uninsured Laiki depositors may face 80% loss and 6 to 7 years wait for payout
Overnight press: Kuroda the talk of the town
Forex: NZD/USD rises to 1-month highs at 0.8395
Forex: EUR/USD remains above 1.2850; Bears keep the tone
Fonterra Chairman: Drought to dramatically impact supply over the season
Forex: GBP/JPY returns above 143.00
Forex: EUR/JPY capped below last week lows around 121.60
Forex: AUD/NZD posts lowest daily close in two weeks
Forex: EUR/AUD dragged lower on Oil strength; prints fresh 4-month lows
Aso: Hopes to complie fiscal 2013 budget soon
New Zealand Mar RBNZ Business Confidence falls to 34.6% vs 39.4%
Forex: AUD/USD sleeping around 1.0480
Abe: Recent currency trend is an overall plus for the Japanese economy
Forex Flash: General flows out of USD appears month end related - RBS
More on Kazumasa Iwata ’2% inflation impossible in 2 years’ comments
Forex: EUR/USD prints fresh session lows sub-1.2850 on the back of broad USD strength
Forex: USD/JPY climbs above 94.80 helped by USD buying across the board
Sources: BOJ to start open-ended asset purchases as soon as meeting next week
Japan PM Abe had a speech before parliament, and once again repeated on the compromise to rise inflation to 2%, while noted recent weakness in Yen had helped improve economic conditions in the nation. Local share markets moved mostly higher over all, with Australian ASX index in the leading group posting +0.9% gains. Oil held above recent three day gains above the $95 mark, while Gold remained mostly unchanged barely below the $1600 handle.
As Eastern holidays get closer, with Australia and New Zealand closed over Friday, at the same time month and fiscal end for some, markets are getting thinner, which will translate in smaller trading ranges while there's liquidity around, and wild spikes as soon as this liquidity dries and some market players want to take advantage of such low volume conditions, which help moving markets with small relative amounts.
Uninsured Laiki depositors may face 80% loss and 6 to 7 years wait for payout
Overnight press: Kuroda the talk of the town
Forex: NZD/USD rises to 1-month highs at 0.8395
Forex: EUR/USD remains above 1.2850; Bears keep the tone
Fonterra Chairman: Drought to dramatically impact supply over the season
Forex: GBP/JPY returns above 143.00
Forex: EUR/JPY capped below last week lows around 121.60
Forex: AUD/NZD posts lowest daily close in two weeks
Forex: EUR/AUD dragged lower on Oil strength; prints fresh 4-month lows
Aso: Hopes to complie fiscal 2013 budget soon
New Zealand Mar RBNZ Business Confidence falls to 34.6% vs 39.4%
Forex: AUD/USD sleeping around 1.0480
Abe: Recent currency trend is an overall plus for the Japanese economy
Forex Flash: General flows out of USD appears month end related - RBS
More on Kazumasa Iwata ’2% inflation impossible in 2 years’ comments
Forex: EUR/USD prints fresh session lows sub-1.2850 on the back of broad USD strength
Forex: USD/JPY climbs above 94.80 helped by USD buying across the board
Sources: BOJ to start open-ended asset purchases as soon as meeting next week