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10 Mar 2014
Asia Recap: Aussie lower after disappointing Chinese trade data
FXStreet (Bali) - The Asian session developed in a slow motion, with the US Dollar keeping or extending most of its gains from an after an improved US NFP on Friday, while the Aussie weakened on disappointing Chinese data over the weekend.
AUD/USD gave up further downside in early Monday, with the surprising Chinese trde deficit on Saturday, coupled with some additional 'risk off' headlines on Ukraine, and the technical re-take of 0.9080 support last Friday, all weighing on the pair's outlook.
The Aussie found a session low of 0.9025 ahead of Europe, with the next critical support now located at 0.90 area, where the tenkan on the daily crosses. A break lower may open up further downside toward 0.8935/40.
USD/JPY was barely moved after the Friday NFP-induced spike to 103.75, with the pair unable to muster any gains to instead find a cluster of bids around 103.00 that kept the rate stable amid the lack of enthusiasm to participate in the market.
A lower Nikkei 225 (-1.1%) didn't help to the bullish momentum. Nevertheless, the pair keeps a bullish bias as long as buyers can defend the 102.70/103.00 support, a level that took long to be regained, critical now.
The rest of currencies traded without any rhythm either, with the Euro, Pound , Swissy, Loonie, Kiwi and gold consolidating in tight ranges ahead of European trading.
AUD/USD gave up further downside in early Monday, with the surprising Chinese trde deficit on Saturday, coupled with some additional 'risk off' headlines on Ukraine, and the technical re-take of 0.9080 support last Friday, all weighing on the pair's outlook.
The Aussie found a session low of 0.9025 ahead of Europe, with the next critical support now located at 0.90 area, where the tenkan on the daily crosses. A break lower may open up further downside toward 0.8935/40.
USD/JPY was barely moved after the Friday NFP-induced spike to 103.75, with the pair unable to muster any gains to instead find a cluster of bids around 103.00 that kept the rate stable amid the lack of enthusiasm to participate in the market.
A lower Nikkei 225 (-1.1%) didn't help to the bullish momentum. Nevertheless, the pair keeps a bullish bias as long as buyers can defend the 102.70/103.00 support, a level that took long to be regained, critical now.
The rest of currencies traded without any rhythm either, with the Euro, Pound , Swissy, Loonie, Kiwi and gold consolidating in tight ranges ahead of European trading.