USD/JPY recovers from post-US retail sales dip

Posted On 13 Mar 2015

Tag: CHF, EUR, JPY, Nikkei, US Retail sales data, USD

USD/JPY edged up slightly in Asia after a sharp fall yesterday on the back of disappointing US retail sales data. A rising Nikkei helped support the pair recover from a post-retail sales low of 120.66 to 121.42. Asia saw it up from 121.27 to 121.49. EUR/JPY consolidated overnight gains between 128.78-129.00 in Asia but the bias remains decidedly down on continuing ECB quantitative easing.

EUR/USD was steady thanks to a broadly weaker dollar and the pair consolidated after gains yesterday, in a 1.0606-34 range. However the outlook for the euro remains bearish with calls for parity this year as bond yields continue to move lower as QE continues. EUR/GBP traded 0.7132-46, back to levels seen Wednesday. EUR/CHF traded 1.0652-60 with concerns over possible SNB action having abated recently.

GBP/USD edged down from an early high of 1.4897 to 1.4862. Yesterday’s boost to sterling after UK trade data soon faded.
USD/CHF was better bid in Asia, up modestly from 1.0026 to 1.0053 in an attempt to make tracks away from yesterday’s 0.9982 low.

AUD/USD opened in Asia at 0.7708 after topping out at 0.7731 overnight. From an early high of 0.7713, it slid modestly to 0.7670.

NZD/USD closed in New York yesterday at 0.7385, up from 0.7191 just ahead of the RBNZ policy announcement Wednesday but off from yesterday’s 0.7450 high. Asia proved to be a low key affair with the pair consolidating last night’s gains between 0.7365-0.7408.

The post USD/JPY recovers from post-US retail sales dip appeared first on Forex Circles.

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