WorldWideMarkets Community

Forex Trading, Market News & Technical Analysis

Forex Trading: Asian Session Recap and Ranges

Posted by Marge Maresca on Jun 3, 2013 11:36:00 PM

News:

UK BRC May same-store retail sales +1.8% vs. -2.2% year/year.  Total retail sales +3.5% on the year.

UK retail sales rebounded in May, adding to a growing list of less pessimistic news on the economy and further fueling expectations the Bank of England will keep policy on hold at its meeting this week.  

Australia’s Current Account Deficit narrowed to -8.5 billion A$ in the first quarter vs. expectations of 9 billion.  

Comments:

Japan Finance Minister says there is the possibility of market frictions with BOJ’s bold easing, but declines to comment on Yen or Stocks.

BOJ’s Suga says that the markets are in an adjustment phase - natural for the Yen to move up and down.

Markets:

Japanese stocks have extended their drop through Tuesday’s session with the Nikkei down 0.9%.

There was little impact on the data releases to both GBP and AUD.  The British Pound spent the session contained to a 30 point range, while the Australian Dollar was held within a 50 point range.  Official comments caused some volatility in Usd/Jpy.  The pair initially traded to 99.85, followed by a pullback to 99.35 before bouncing back up to 99.65.   

Ranges:

ranges.6.3.2013 resized 600

 

Marge Maresca

WorldWideMarkets

 

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!