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Market Session Recaps

Asia Session

Fri, May 29 2009, 08:13 GMT
by Forex.com Research Desk

FOREX.com  |  View company's profile


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The final Asia session of the week saw the greenback continue to give up recent gains. After a choppy start to the session the USD seemed to trade one way against most of the majors. Without the help of major market moving data, momentum fueled the Tokyo morning, traders quickly piled onto the dollar selloff. EURUSD traded to multi session highs near the 1.4000 handle as AUDUSD gained nearly 60+ pips in a move toward .7900. The Yen saw hefty gains as well, with USDJPY diving over 50+ pips from highs to lows.

Looking ahead, Forex traders will be focusing on data scheduled to be released in the final London and NY sessions. NY will see the bulk of top tier numbers with both GDP and consumer confidence due out of the US. German retail sales and Swiss KOF will highlight the upcoming London session.


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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
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