Another quiet session goes by in Asia as traders look ahead to the US Beige Book data tomorrow and sit back and take a breath after another session of dynamic moves in NY. After a big slide in the Greenback in the New York session, the Dollar continued to struggle in Asia, especially against the commodity currencies down under, but did gain ground against the Yen as positive gains in stocks pushed risk appetite to the front burner. EUR/USD climbed to surpass the NY high of 1.4101, by printing a 1.4102 high in Asia, quite a feat considering the pair was at 1.3857 lows less than 24 hours ago. Against the Pound, the dollar was steady, as the GBP/USD was caught in a range of less than 50 pips despite the political uncertainty in the British Isles. Australia and New Zealand benefited from higher commodity and oil prices, as the AUD/USD drove from 0.7999 to just over 0.8065 and the NZD/USD climbed from 0.6250 to just over 0.6320 for the day. As can be expected, AUD/JPY and NZD/JPY were also stronger as well, by almost a hundred pips and almost a 120 pips respectively. Some good consumer confidence helped to add fuel to the Aussie move as well as returned risk appetite.
After hitting a 97.09 low, USD/JPY took off to reach 97.70, and the Yen crosses all gained ground as the Yen was sold with positive gains in the Asian equity markets. EUR/JPY made a nice turnaround from 136.67, to jump a full big figure by sessions close. There is a good deal of data out later in London albeit mostly minor; however, early in Asia's morning tomorrow at 21:00 GMT we'll see the RBNZ rate decision. Although widely expected to remain unchanged at 2.5%, this data will have the potential to move the Kiwi Dollar.
Upcoming Economic Data Releases (London Session) prior expected
| 6/10/2009 | 6:00 | GE | Consumer Price Index (MoM) | MAY F | -0.10% | -0.10% |
| 6/10/2009 | 6:00 | GE | Consumer Price Index (YoY) | MAY F | 0.00% | 0.00% |
| 6/10/2009 | 6:00 | GE | CPI - EU Harmonised (MoM) | MAY F | -0.20% | -0.20% |
| 6/10/2009 | 6:00 | GE | CPI - EU Harmonised (YoY) | MAY F | -0.10% | -0.10% |
| 6/10/2009 | 6:45 | FR | Industrial Production (MoM) | APR | -1.40% | 0.10% |
| 6/10/2009 | 6:45 | FR | Industrial Production (YoY) | APR | -16.10% | -16.80% |
| 6/10/2009 | 6:45 | FR | Manufacturing Production (MoM) | APR | -1.10% | 0.00% |
| 6/10/2009 | 6:45 | FR | Manufacturing Production (YoY) | APR | -17.70% | -18.40% |
| 6/10/2009 | 8:30 | UK | Visible Trade Balance GBP/Mn | APR | -£6589 | -£6400 |
| 6/10/2009 | 8:30 | UK | Trade Balance Non EU GBP/Mn | APR | -£3307 | -£3500 |
| 6/10/2009 | 8:30 | UK | Total Trade Balance (GBP/Mln) | APR | -£2537 | -£2400 |
| 6/10/2009 | 8:30 | UK | Industrial Production (MoM) | APR | -0.60% | -0.10% |
| 6/10/2009 | 8:30 | UK | Industrial Production (YoY) | APR | -12.40% | -12.40% |
| 6/10/2009 | 8:30 | UK | Manufacturing Production (MoM) | APR | -0.10% | 0.10% |
| 6/10/2009 | 8:30 | UK | Manufacturing Production (YoY) | APR | -12.90% | -12.60% |
| 6/10/2009 | 11:00 | EC | ECB's Gonzalez-Paramo Speaking in Madrid | 10-Jun | ||
| 6/10/2009 | 12:30 | CA | Int'l Merchandise Trade | APR | 1.1B | 0.9B |
| 6/10/2009 | 12:30 | CA | New Housing Price Index MoM | APR | -0.50% | -0.40% |
