Continuum Economics
  • Search
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
  • Calendar
  • Forecasts
  • Events
  • Data
  • Newsletters
  • My Alerts
  • Community
  • Directory
  • About Us
  • Buy
  • Invite A Friend
  • My Basket
  • Articles
    • All
    • Thematic
    • Tactical
    • Asia
    • EMEA
    • Americas
    • Newsletters
    • Freemium
    • Editor's Choice
    • Most Viewed
    • Most Shared
    • Most Liked
  • Calendar
    • Interactive
      • China
      • United States
      • Eurozone
      • United Kingdom
    • Month Ahead
    • Reviews
    • Previews
  • Forecasts
    • Forecasts
    • Key Views
  • Events
    • Media
    • Conference Calls
  • Data
    • Country Insights
    • Shadow Credit Ratings
    • Full CI Data Download
  • Newsletters
  • My Alerts
  • Community
    • FX
    • Fixed Income
    • Macro Strategy
    • Credit Markets
    • Equities
    • Commodities
    • Precious Metals
    • Renewables
  • Directory
  • My Account
  • Notifications Setup
  • Account Details
  • Recent Devices
  • Distribution Lists
  • Shared Free Trials
  • Saved Articles
  • Shared Alerts
  • My Posts
Published: 2024-02-12T04:45:59.000Z

Asia Summary and Highlights 12 Feb

byCephas Kin Long Yung

FX Analyst
-

It is a quiet Monday with markets observing Lunar New Year

RBNZ Gov Orr says inflation remains too high, that's why we've kept cash rate at 5.5%

Asia Session

It is a quiet Monday with most Chinese markets observing Lunar New Year. There is little important economic releases nor headline coming out thorough the weekend, maybe except for the Super Bowl. U.S. 3 major equity indexes are barely in the green while USD trading individually against majors. The Kiwi has stood out with losses as we heard RBNZ Gov Orr saying inflation remains too high and "that's why we've kept cash rate at 5.5%". It seems to smash hawkish speculations from ANZ last week and see NZD/USD down 0.3% to 0.6130. AUD/USD fares better to trade 0.1% lower at 0.6518 while USD/CAD rose 0.03%.

U.S. Treasury Yields are higher across the curve and is challenging the year high but seems to have limited impact towards the FX market with Asian market in holiday. USD/JPY is trading 0.01% lower at 149.22. Elsewhere, EUR/USD is up 0.07% and GBP/USD is down 0.01%.

North American session

In a fairly quiet North American session the USD slipped after annual CPI revisions saw few changes, leaving the recent improvement intact. USD/JPY saw a quick dip to 149 probably encouraged by December’s data being revised down, though October and November were revised up and the dips in UST yields, and USD/JPY, largely reversed. EUR and GBP held on to modest gains versus the USD slightly better, though EUR/USD remained below 1.08.

USD/CAD initially fell around 20 pips on stronger headline Canadian employment numbers, but with the details less impressive more than reversed the decline through the session, finishing around 20 pips higher. The USD also fell back modestly the AUD after the data, with those losses being mostly sustained despite the reversal in the CAD gains. 

 

Continue to read the article for free
Login

or

or

Topics
FX Highlights
Foreign Exchange
Asia Pacific Close

GENERAL

  • Home
  • About Us
  • Our Team
  • Careers

LEGAL

  • Terms and Conditions
  • Privacy Policy
  • Compliance
  • GDPR

GET IN TOUCH

  • Contact Us
Continuum Economics
The Technical Analyst Awards Winner 2021
The Technical Analyst Awards Finalist 2020
image