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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Aug 27, 2013 11:03:00 PM

The majors were mostly rangebound with the exception being the antipodean currencies which sold off to start the session before stabilizing a bit. Crude Oil continued its ascent while Gold was content to play the part of spectator.

Rising Oil and Gold prices, Equity markets selling off and the Yen rallying all seem to be symptomatic of the nervousness surrounding the Syrian situation. The impact that an armed conflict could have on the world's oil supply appears to be the root cause for investor worry. Normally when risk aversion rears its head, the modus operandi is for the Yen and the US Dollar to strengthen at the expense of their peers. The fact that this is NOT happening is a bit puzzling, and if pushed, then maybe one could speculate that the FED tapering issue might also be weighing on the markets' psyche. 

Ranges:{charts: WorldWideMarkets}(click to enlarge)

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