WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Forex Trading: Asia Session Recap and Ranges

Posted by Akhilesh Ganti on Apr 16, 2013 10:54:00 PM

usdjpy 041713 5m

NZ CPI 1Q13

New Zealand CPI for the first quarter came in at +0.4% which was slightly lower than the markets' +0.5% estimate (click on chart to enlarge). The Kiwi dropped a bit on this release to the 0.8470 level. The RBNZ has all but promised that they would keep the OCR at 2.5% and, unless there is a sizable uptick in inflation, they are probably quite content to stand pat when they meet next week.

USD/JPY was stronger as it breached 98, setting off stops before running out of steam around 98.30. The rest of the majors were stuck in a consolidative range. Gold traded between 1365 and 1384 as yesterdays' rebound rally from the 1321 lows seems to have run out of momentum around 1400.

041713

 

Tools & Educational Resources

Forex 101LEARN MORE >>
Learn the basics of Forex and how to practice trading the markets.

GlossaryLEARN MORE >>
Confused by the language? Click here and search for key trading terms.

FAQ CenterLEARN MORE >>
Browse our frequently asked questions and find your answers right away.

VideosLEARN MORE >>
Access to the educational lessons, webinars and platform walkthroughs.

READY TO TRY THE MARKETS?

Get started with a FREE $10,000 Demo Account and experience the Forex Market RISK FREE!