Sep. 3: Asian session
FXBAZOOKA.com - Asian stocks rose as the yen fell to a January low and reports showed faster expansion in China’s service industries. The MSCI Asia Pacific Index added 0.5%.
USD/JPY reached 105.30. US dollar strengthened on bets quickening U.S. growth will spur the Fed to increase interest rates sooner than traders anticipate. Yen weakened as Prime Minister Shinzo Abe will appoint Yasuhisa Shiozaki to head the ministry in charge of revamping the national pension fund. EUR/USD is trading in the $1.3130 area. GBP/USD hit $1.6444.
AUD/USD remains relatively unchanged in the Asian session, despite the high volatility. The pair swung in the $0.9260/9300 range. Australian GDP growth slowed from 1.1% in Q1 to 0.5% in Q2, but came a bit above the forecast (+0.4%). Anyway, this was the lowest quarterly GDP growth since the year 2012. China Services PMI had little impact to the Aussie. NZD/USD dipped to $0.8280 before returning back above the $0.8300 mark.