Back
29 Oct 2014
Asia Recap: Consolidation in G10 FX ahead of FOMC
FXStreet (Bali) - A slow Asian session, with all G10 currencies in consolidation ahead of the FOMC outcome later today, which will probably define the next near term trend for the USD.
AUD/USD kept the bullish tone, trading slowly higher, currently at 0.8866, and heading towards recent highs at 0.8881. NZD/USD was firmer at 0.7930 with sellers tipped at 0.7950/55, Tuesday's high. USD/JPY consolidated a few pips above 108.00. EUR/USD saw trading developing in a tight 1.2730-40 range. GBP/USD was capped a few pips below 1.6150.
On the fundamental front, Japan's preliminary Industrial Production for September came at +2.7% MoM VS +2.2% exp. In New Zealand, ANZ Business Confidence for October was lifted to 26.5 vs 13.4 prior (mainly on political uncertainty). Lastly, MNI/Wespac China consumer sentiment in October stood at 110.9 vs. 113.2 prior.
AUD/USD kept the bullish tone, trading slowly higher, currently at 0.8866, and heading towards recent highs at 0.8881. NZD/USD was firmer at 0.7930 with sellers tipped at 0.7950/55, Tuesday's high. USD/JPY consolidated a few pips above 108.00. EUR/USD saw trading developing in a tight 1.2730-40 range. GBP/USD was capped a few pips below 1.6150.
On the fundamental front, Japan's preliminary Industrial Production for September came at +2.7% MoM VS +2.2% exp. In New Zealand, ANZ Business Confidence for October was lifted to 26.5 vs 13.4 prior (mainly on political uncertainty). Lastly, MNI/Wespac China consumer sentiment in October stood at 110.9 vs. 113.2 prior.