Monday, 26 January 2015

Forex - Yen, Aussie weaker in light data day, NAB survey in Australia

The yen and Aussie held slightly weaker in early Asia on Tuesday in a light data day.

USD/JPY traded at 118.47, up 0.01%, while AUD/USD changed hands at 0.7921, down 0.05%. EUR/USD rose 0.06% to 1.1244.

Japan's service producer price index is due at 0850 Tokyo time (2350 GMT). The median forecast is for a gain of 3.6%.

Then in Sydney at 1130 (0030 GMT), the NAB's Business Conditions and Business Confidence for December are due.

The November survey saw drops in both confidence and conditions, with confidence at the lowest level since the pre-election jump in mid-2013. If the survey disappoints it will only encourage the market to increase pricing for a near-term RBA cash rate cut from the current record low 2.5%.

Overnight, the dollar slipped moderately lower against the other major currencies on Monday, as fears sparked by anti-austerity Syriza party's victory in Sunday's Greek elections continued to subside in relatively quiet trade.
Read more Click here / www.trade4x.net

 

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