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Currency Analyst since 2010

Aug. 14: Asian session

 

FXBAZOOKA.com - Asian stocks rose as a slowdown in the US retail sales fueled bets the Fed won’t raise interest rates earlier than expected. The expectations of lower rates in the US for a longer period of time make traders more optimistic. USD/JPY rose to 102.65. Yen fell for a fourth day as demand for safe havens declined.

EUR/USD slid to $1.3355 after spiking to $1.3415 yesterday. According to the data released today, France’s economic growth stagnated in Q2, while German GDP contracted more than expected – by 0.2%.Euro zone’s GDP is due at 09:00 GMT. GBP/USD tested $1.6669 on the downside after sliding by more than 120 pips yesterday.

Commodity currencies retraced a bit higher from the last week’s lows as risk sentiment improved a little. NZD/USD retraced to $0.8460 after a push $0.8490, but stays in the positive zone. New Zealand Business Manufacturing Index came a bit below the forecast (53.0 vs. 53.4 expected), while retail sales surprised to the upside (1.2% vs. 1.0% expected). AUD/USD trades under slight bearish pressure around $0.9295.

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