Currency Analyst since 2010

Feb. 13: Asian session

  • Asian stocks correct down
  • Bad employment figures from Australia

Asian shares fell as investors took profit on the previous rally. MSCI Asia Pacific Index slipped 0.6% after gaining 4.8% the day before. Nikkei 225 is down by 1.7%. US dollar weakened before a report today forecast to show US retail sales stalled. Fed Chairwoman Janet Yellen’s testimony to the Senate Banking Committee, scheduled for today, will be postponed because of a storm forecast to dump heavy snow on the US East Coast.

USD/JPY slid to levels just above 102.00. Declines in Asian stocks increased demand for yen as a safe haven.

AUD/USD fell to $0.8930. The number of employed in Australian contracted by -3.7K, while the jobless rate increased even more than expected, to 6.0%, the highest since July 2003. NZD/USD is testing $0.8300 to the downside after it slid from yesterday’s peak at $0.8368.

EUR/USD returned back above $1.3600 after hitting $1.3562 yesterday. GBP/USD reached $1.6622.

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