Currency Analyst since 2010

Jan. 16: Asian session

MSCI’s broadest index of Asia-Pacific shares outside Japan was largely flat, though Hong Kong stocks rose by 0.4%. Japanese Nikkei added by 0.5%.

USD/JPY tested 104.92 before easing to 104.70. US dollar rose due to good American economic data and the upbeat earnings from Bank of America.  

Australian dollar is trading under pressure for a third consecutive day. On Thursday AUD/USD accelerated the decline, testing the $0.8820 support. AUD was hit by downbeat labor market data that showed that Australia employment contracted by 22.6K (forecast: 10.3K, prior reading revised down to 15.4K). Jobless rate holds at 5.8%. NZD/USD remains well-supported above the $0.8300 mark.

EUR/USD tested $1.3623, but then returned a bit lower. GBP/USD declined to $1.6350, but is staying above yesterday’s low at $1.6322.

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