Mar. 27: Asian session
Asian shares pared losses. The MSCI Asia Pacific Index slid 0.1% trimming an earlier decline 0.7%. US President Barack Obama said that the global order is at “a moment of testing” and vowed to increase Russia’s economic and political isolation if it doesn’t alter course on Ukraine.
USD/JPY rose to 102.20 after an initial dip to 101.70. Nikkei 225 is up by 0.7%. Commodity currencies are on demand. AUD/USD recovered to the $0.9240 after a dip to $0.9215 in early Asia. For now the upside remains capped by the yesterday’s $0.9247 resistance. NZD/USD climbed to $0.8630, coming close to the recent 1-year high of $0.8640. NZ trade surplus increased from 286M to 818M in February. Comments from RBNZ Deputy Governor Grant Spencer supported the kiwi. Gold consolidates slightly above $1300 following the yesterday’s dip to $1298.
EUR/USD edged up to the levels just below $1.3800 from as low as $1.3776. GBP/USD is trading in the $1.6580 area, below yesterday’s high at $1.6597. The UK releases retail sales data before the US publishes initial jobless claims figures and a final reading for Q4 economic growth.