Back
7 Mar 2014
Asia Recap: RBA Stevens entertains AUD traders
FXStreet (Bali) - It was an Asian session with the Australian Dollar as the only mover as traders reacted to RBA Stevens' headlines.
AUD/USD opened on Friday at 0.9090 and consolidated within a 0.9070-0.9110 range in Asia. The first move up came courtesy of the RBA Governor's Glen Stevens testimony to the parliamentary economic committee, after the first few remarks omitted any aggressive rhetoric toward the AUD.
However, a Steven's headline referring to the "AUD still high above 90 cents" shook some intraday longs, with the exchange rte visiting its session lows before a rebound as Stevens continued his references to the AUD value by concluding "I have nothing further to say on the AUD."
It was all slow motion from here as traders headed to the sidelines ahead of US non-farm payrolls this Friday. Furthermore, since the situation in Ukraine continues far from over, traders would rather square up positions on any possible risk headlines that causes undesirable setbacks to an otherwise constructive AUD/USD market.
Besides, China trade data on Saturday and CPI on Sunday, were all additional reasons to keep the pair contained within a small range.
The rest of G10 currencies were all in consolidation mode, including the Japanese Yen, which fluctuated around 103.00 without taking any directional bias. The Nikkei 225 ends the day on a solid note around +0.75%.
Main headlines in Asia
Carousel of RBA Stevens headlines send AUD higher
Fed's Lockhard: Bar to reverse taper decision high
Australian construction activity at 6-month low
AUD/USD opened on Friday at 0.9090 and consolidated within a 0.9070-0.9110 range in Asia. The first move up came courtesy of the RBA Governor's Glen Stevens testimony to the parliamentary economic committee, after the first few remarks omitted any aggressive rhetoric toward the AUD.
However, a Steven's headline referring to the "AUD still high above 90 cents" shook some intraday longs, with the exchange rte visiting its session lows before a rebound as Stevens continued his references to the AUD value by concluding "I have nothing further to say on the AUD."
It was all slow motion from here as traders headed to the sidelines ahead of US non-farm payrolls this Friday. Furthermore, since the situation in Ukraine continues far from over, traders would rather square up positions on any possible risk headlines that causes undesirable setbacks to an otherwise constructive AUD/USD market.
Besides, China trade data on Saturday and CPI on Sunday, were all additional reasons to keep the pair contained within a small range.
The rest of G10 currencies were all in consolidation mode, including the Japanese Yen, which fluctuated around 103.00 without taking any directional bias. The Nikkei 225 ends the day on a solid note around +0.75%.
Main headlines in Asia
Carousel of RBA Stevens headlines send AUD higher
Fed's Lockhard: Bar to reverse taper decision high
Australian construction activity at 6-month low