Mar. 25: Asian session
Asian shares swung between gains and losses, after the biggest rally in a month for the regional benchmark index yesterday, as data showed a slowdown in US manufacturing and investors weighed the prospect of a recession in Russia.
USD/JPY edged up to 102.35 after spiking up to 102.64 on Monday. It was a pretty calm session for commodity currencies. AUD/USD hit $0.9160 (highest since early December), but then retraced to $0.9135. The 200-day MA still acts as a resistance for the Aussie. NZD/USD hovers in a sideways $0.8530/60 range. Gold price rebounded from the yesterday’s 1-month low of $1307 to $1315.
EUR/USD is trading a bit on the downside in the $1.3830 area after it spiked to $1.3876 yesterday. A report due today may show that business confidence in Germany, the region’s biggest economy, held near a 2 1/2-year high. GBP/USD edged down to $1.6485 after spiking to $1.6536 yesterday.