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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Jul 10, 2013 11:00:00 PM

The Asian session began as the markets were reacting to Bernanke's remarks and the illiquid conditions aided in ratcheting up the volatility that saw traders punish the US Dollar. After the dust had settled, order was restored and the markets reverted back to the normal quiet trading activity that characterizes this session.

On the data front, New Zealand's PMI posted a reading of +54.7 which, while lower than last periods reading, was still in the expansionary mode. Japan's Core machinery Orders came out at +10.5% which was much higher than estimates of +1.9%. The much anticipated Australian Employment data came out mixed which is was in line with forecasts of a soft labor market.

071113

 

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