Once again trading in Asia is witness to a weakening yen and dollar, as the recent trend in selling both currencies continues. EUR/USD pushed to a 1.4647 high today in Asia, 5 pips shy of NY's 1.4652 high which represented a 9 month high in the pair. The Euro also surged against the yen as EUR/JPY topped out near 133.30, culminating a 2 big figure mover higher that began yesterday in Asia.
Short covering propped the USD/JPY higher to 91.20, pulling the pair off of an earlier NY seven month low of 90.20.
A dynamic jump in the UK Housing Prices to a two year high of 10.7% helped pull the Pound higher. GBP/JPY broke into the 151.40/50 area after beginning the day near 150.60, and the GBP/USD pair moved from 1.6565 levels to touch just over 1.6625. UK CPI will dominate the focus in the Pound later in the London session.
Weaker housing starts and no clear direction from the monetary policy meeting minutes helped drop the Aussie dollar from 0.8637 to 0.8595 levels against the greenback. AUD/JPY charged above 78.60, but eventually retreated to 78.15 levels before stabilizing near 78.40.
The continued theme will be wondering how low can the dollar go, and with Retail Sales, PPI and Fed Chairman Ben Bernanke speaking tomorrow in New York, we may get some answers.
Upcoming Economic Data Releases (London Session) prior expected
| 9/15/2009 | 2:45 | FR | Consumer Price Index (MoM) | AUG | -0.40% | 0.30% |
| 9/15/2009 | 2:45 | FR | Consumer Price Index (YoY) | AUG | -0.70% | -0.40% |
| 9/15/2009 | 2:45 | FR | CPI - EU Harmonised (MoM) | AUG | -0.50% | 0.30% |
| 9/15/2009 | 2:45 | FR | CPI - EU Harmonised (YoY) | AUG | -0.80% | -0.40% |
| 9/15/2009 | 2:45 | FR | Current Account (EURO) | JUL | -3.5B | - - |
| 9/15/2009 | 2:45 | FR | CPI Ex Tobacco Index | AUG | 117.8 | 118.24 |
| 9/15/2009 | 3:15 | SZ | Industrial Production (QoQ) | 2Q | -13.10% | 7.30% |
| 9/15/2009 | 3:15 | SZ | Industrial Production (YoY) | 2Q | -9.50% | -11.10% |
| 9/15/2009 | 4:00 | EC | EU Foreign Ministers Hold Meeting | 15-Sep | ||
| 9/15/2009 | 4:30 | UK | CPI (MoM) | AUG | 0.00% | 0.30% |
| 9/15/2009 | 4:30 | UK | CPI (YoY) | AUG | 1.80% | 1.40% |
| 9/15/2009 | 4:30 | UK | Core CPI YOY | AUG | 1.80% | 1.60% |
| 9/15/2009 | 4:30 | UK | Retail Price Index | AUG | 213.4 | 214 |
| 9/15/2009 | 4:30 | UK | RPI (MoM) | AUG | 0.00% | 0.20% |
| 9/15/2009 | 4:30 | UK | RPI (YoY) | AUG | -1.40% | -1.50% |
| 9/15/2009 | 4:30 | UK | RPI Ex Mort Int.Payments (YoY) | AUG | 1.20% | 1.20% |
| 9/15/2009 | 4:30 | UK | DCLG UK House Prices (YoY) | JUL | -10.70% | -9.50% |
| 9/15/2009 | 4:45 | UK | BOE's King, Bean, Dale, Barker, Miles to Testify to Lawmakers | 15-Sep | ||
| 9/15/2009 | 5:00 | GE | ZEW Survey (Econ. Sentiment) | SEP | 56.1 | 60 |
| 9/15/2009 | 5:00 | GE | Zew Survey (Current Situation) | SEP | -77.2 | -67.5 |
| 9/15/2009 | 5:00 | EC | Euro-Zone Labour Costs (YoY) | 2Q | 3.70% | 3.40% |
| 9/15/2009 | 5:00 | EC | ZEW Survey (Econ. Sentiment) | SEP | 54.9 | 60 |
