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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Nov 5, 2013 11:00:00 PM

New Zealand's 3Q unemployment rate fell to 6.2% -vs- the 6.4% reading posted in 2Q which seems to imply that wage pressures are likely to emerge sooner rather than later. The Kiwi got a boost from this, rising to 0.8375 -vs- 0.8332 prior to the data, as the market is now expecting the RBNZ to start hiking the OCR in 1Q 2014

The BOJ minutes showed that BOJ board members were concerned about the potential negative effects of a US monetary policy shift on global markets at a policy meeting last month. They felt that market participants were more confused about the direction of US monetary policy after the FED surprised markets by not tapering at its September 18 meeting.

Australia’s trade balance came out at AUD$ -0.28 billion which was higher than both estimates of AUD$ -0.45 Billion and last month's reading of AUD$ -0.69 Billion.

Ranges: {WWM's New ALPHA Trader - 4h charts}


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