Quiet Asian session, heavy sentiment after weak China data

Posted On 10 Aug 2015

USD/JPY was better bid on Monday, off Friday’s lows and moving up from 124.15 to 124.42. EUR/JPY also moved a leg up from 136.12 to 136.40.

EUR/USD opened in Asia at 1.0965, up from Friday despite the solid US jobs data. The US dollar recovered some lost ground early, leaving EUR/USD to dip to 1.0950. But decent demand around 1.0930-50 discouraged moves lower, seeing EUR/USD pop later back to 1.0975.

GBP/USD saw some to and fro action but the pair remained in a relatively tight 1.5470-99 range, with few flows during the summer lull. EUR/GBP traded near Friday’s 0.7096 high between 0.7075-84.

USD/CHF traded 0.9814-46 in Asia, with USD better bid but flows few and far between. EUR/CHF traded in a 1.0768-90 holding pattern.

AUD/USD opened in Asia at 0.7407, then steadied between 0.7380-0.7418. Aussie was soft early on weak China data that was out over weekend. (slumping China exports and PPI). However, last week’s gains for AUD were mostly retained.

NZD/USD traded a narrow 0.6593-0.6627 range and remained heavy due to the weak Chinese data. Regional holidays added to a quiet lackluster Asian session trading.

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