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Market Session Recaps
Asia Session
Mon, Oct 26 2009, 06:11 GMT
by Forex.com Research Desk
FOREX.com | View company's profile
Although trading to start the week was relatively subdued due to holidays in New Zealand and Hong Kong, it did have its moment of excitement. The Financial News, a paper linked to China's central bank printed a report from a Chinese researcher stating that China should increase its holdings of both Euros and yen. This report helped push the EUR/USD through fresh 14 month highs of 1.5063 on a stop driven move that energized a quiet Monday in Asia. The pair initially opened lower and fell to lows of 1.4980 before the news sent the pair rocketing higher.
The yen benefitted as well from the report, as USD/JPY slid from recent highs near 92.16 to just near 91.57 for the day. Yen crosses all dropped in favor of a stronger yen, despite the fact that Asian equities shrugged off Fridays losses on Wall Street and were clearly promoting a stronger risk appetite.
The AUD/USD was initially soft on worse than expected PPI data which came in at 0.1% as opposed to the forecast 0.3%, but the pair was pulled higher by the gains in the Euro. AUD/USD touched a 0.9275 high after a bottom of 0.9195. NZD/USD also rode the wave to 0.7565 before settling down near 0.7535.
Inevitably, the report from China was eventually denied as a statement was released stating that the views in the report were ''fully personal'' views of the researcher. Thus, most pairs returned to humbler, yet elevated levels as the day wore down.
Published on Mon, Oct 26 2009, 06:15 GMT
Forex.com
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Archive
- Asia Session
Published On Fri, Mar 19 2010, 06:42 GMT - New York Session
Published On Thu, Mar 18 2010, 22:32 GMT - Asia Session
Published On Thu, Mar 18 2010, 05:58 GMT - New York Session
Published On Wed, Mar 17 2010, 22:44 GMT - Asia Session
Published On Wed, Mar 17 2010, 06:08 GMT
Legal disclaimer and risk disclosure
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.Related reports
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