Currency Analyst since 2010

Feb. 6: Asian session

  • Asian stocks rise
  • Good data from Australia
  • Waiting for the BoE and ECB

Asian stocks advanced for a second day. The MSCI Asia Pacific Index and Japanese Nikkei added 0.4%.

USD/JPY rose, but is below yesterday’s high at 101.76. Yen fell as stocks went up. Commodity currencies are trading in the positive territory. AUD/USD rose from $0.8900 on strong data, but faced sellers at $0.8980. Australia December retail sales rose in line with forecast by 0.5% m/m, while the NAB business confidence improved from 3 to 8. Australia came into a 468M trade surplus in December vs. the expected 200M deficit. NZD/USD has also gained some ground, but met sellers at $0.8245 and remains below the Monday high of $0.8255.

EUR/USD keeps consolidating in the $1.3540/00 area. GBP/USD is also trading sideways in the $1.6300 area. The ECB and Bank of England decide on monetary policy today

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