Currency Analyst since 2010

May 28: Asian session

USD rose against most of its major peers before US data today that may show consumer confidence improved and home prices gained and the possibility of the Fed’s tapering monthly bind purchases increased.

EUR/USD returned above $1.2900 after earlier testing levels below this handle, but is still below the opening price. The release of German import prices is the only event in the euro zone’s calendar. GBP/USD is fluctuating around $1.5100 after it tested $1.5063 in Asia. MPC member Tucker speaks at 17:00 GMT. USD/CAD is around 1.0340 after testing 1.0367 in the morning. USD/CHF touched 0.9680, but later corrected down to 0.9660.

USD/JPY jumped by 100 pips to 102.00. Nikkei 225 opened in the red, but later on turned to growth and was last seen at 14,324 (+1.20%). According to Japan’s economy minister Amari, Japanese stock markets may exit turbulence soon as global markets settle.

AUD/USD rebounded to 0.9650 following a dip below 0.9600 earlier in the day. NZD/USD remains relatively flat, but rose to $0.8090 in the Asian trade. Gold is trading in the red around $1390 per ounce. This week markets will pay special attention to Chinese Manufacturing PMI on Saturday (forecast – negative).

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