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15 Aug 2013
Session Recap: USD selling off on Japan corporate tax talks
FXstreet.com (Barcelona) - Another quiet early Asian session until Japan FinMin Aso said to reporters that was no truth PM Abe was considering a corporate tax break, which led to a massive selling off in the Nikkei index, pushing Yen higher, and triggering few stops in the way down of DXY spot USD index.
USD/JPY dipped to as low as 97.59 right after the Tokyo lunch break from session highs near 98.30, while EUR/USD posted fresh session highs at 1.3311 all based on broad USD weakness. The AUD/USD is currently also facing fresh session highs dealing with offers starting around 0.9180, helped on comments that the PBoC could cut the RRR soon.
Local share markets are mixed with Nikkei leading the way down losing more than -1.5%, while Korean Kospi, Hong-Kong's Hang-Sheng and the Shanghai Composite are in the light green. Gold spiked in early trade to fresh 3-week highs just shy of the $1350 key level, last at $1339, while Oil is also showing strength above $107 on fears about Egypt growing tensions.
Main headlines in the Asian Session
WTI Crude trading at 107.00 resistance, bullish path intact
Moody’s: Japan’s weaker growth jeopardizes revitalization
New Zealand July Business NZ PMI improves to 59.5 vs 55.2
Japan Foreign bond investment up to ¥1614.8B in August 9 from ¥690.3B
Australia August Consumer Inflation Expectation falls to 2.3% vs 2.6%
Australia July RBA Foreign Exchange Transaction down to 436M vs 993M
Japan’s finance minister Aso: No truth to media report that PM Abe ordered corporate tax cuts
More India restrictions on gold buyers
USD/JPY dipped to as low as 97.59 right after the Tokyo lunch break from session highs near 98.30, while EUR/USD posted fresh session highs at 1.3311 all based on broad USD weakness. The AUD/USD is currently also facing fresh session highs dealing with offers starting around 0.9180, helped on comments that the PBoC could cut the RRR soon.
Local share markets are mixed with Nikkei leading the way down losing more than -1.5%, while Korean Kospi, Hong-Kong's Hang-Sheng and the Shanghai Composite are in the light green. Gold spiked in early trade to fresh 3-week highs just shy of the $1350 key level, last at $1339, while Oil is also showing strength above $107 on fears about Egypt growing tensions.
Main headlines in the Asian Session
WTI Crude trading at 107.00 resistance, bullish path intact
Moody’s: Japan’s weaker growth jeopardizes revitalization
New Zealand July Business NZ PMI improves to 59.5 vs 55.2
Japan Foreign bond investment up to ¥1614.8B in August 9 from ¥690.3B
Australia August Consumer Inflation Expectation falls to 2.3% vs 2.6%
Australia July RBA Foreign Exchange Transaction down to 436M vs 993M
Japan’s finance minister Aso: No truth to media report that PM Abe ordered corporate tax cuts
More India restrictions on gold buyers