Aussie eases down despite steady Chinese CPI

Posted On 10 Apr 2015

Tag: AUDUSD, Chinese CPI, EURUSD, GBPUSD, USDJPY

AUD/USD opened in Asia at 0.7693 and initially rose to 0.7722 before easing back down to 0.7697. Some Australian economic data on home loans played a role. Upbeat Chinese CPI data were shrugged off. Meanwhile, weighing on the aussie are expectations for a rate cut possibly in May.

USD/JPY was quiet in Asia and traded a tight 120.44-62 range. The early Nikkei rally through 20k to 20,006.00 had little impact on the pair. EUR/JPY got a lift from 128.50 to 128.77 on short-covering but the bias remains down.

EUR/USD edged slightly higher in Asia but the bias remains down. The pair rose modestly from a late New York low of 1.0637 to 1.0653 at the Asia open and then 1.0684. EUR/JPY rose in tandem from its late New York spike low of 128.24 to 128.50 at the Asia open and then 128.77. EUR/GBP saw some bounce, up small from 0.7245 to 0.7256, still endeavoring to make tracks away from the 0.7228 low Wednesday.

GBP/USD did little in a general quiet Asian session today, holding between 1.4704-24 in Asia and above the late New York spike low of 1.4684.

USD/CHF moved off yesterday’s high of 0.9790 and traded in Asia between 0.9750-78 in a quiet session ahead of the weekend.

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