Foxy Forex Asian Market Report!
Posted in Market View
- Commodity FX pairs lagging after RBA cuts growth and inflation forecasts
- Rio Tinto Chair boss China visibly slowing but should remain resilient \
- Chinese officials indicate continued inflation-fighting bias slow growth
- BOC’s Carney to be named FSB chair
- Reuters US Treasury data shows Japan may have spent $50B in intervention
- Asian trading was a volatile and non directional EUR/USD rallied to highs of 1.3838 early in asian trading session falling short of US session highs
- The risk off trade started right after RBA statements then consolidated off the lows AUD/USD rallied early then was capped off earlier highs at 1.0440 struggling after then selling off as low as 1.0370 RBA forecasts were dovish comments from Rio Tinto then weighed on AUD GBP managed to stay above 1.6000 but just the worst performance was USD/CAD taking the worst of the commodity pairs
