Aug. 13: Asian session
Asian stocks swung between gains and losses as investors weighed earnings reports. Chinese shares fell after the nation’s measure of new local-currency loans came at 385.2B yuan vs. 780B expected. Appetite for riskier assets has also been undermined by violence in the Middle East. Investors were also wary of the developments in Ukraine as a convoy of 280 Russian trucks carrying humanitarian aid headed for eastern Ukraine, where government forces are closing in on pro-Russian rebels.
USD/JPY edged up to 102.30. Yen wasn’t affected much by the release of Japan’s GDP which shrank by 1.7% q/q in Q2. EUR/USD is trading in the $1.3360 area after spiking down to $1.3335 yesterday. GBP/USD is trading just above $1.6800.
AUD/USD strengthened to $0.9280, supported by the better-than-expected NAB business confidence figure (11 vs. prior 8). Housing price index increased by 1.8%. NZD/USD consolidates slightly above the Tuesday’s 2-month low of $0.8407. Gold price dipped to $1306.8.