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- Asian session: Japanese yen traded a little lower
Asian session: Japanese yen traded a little lower
Weekend data from China (a miss on industrial production and retail sales, while a beat on fixed asset investment) gave us an early morning dip on the Australian dollar. This shows up as a 'gap' on many charts and, as I have said before numerous times (too often to mention, but here I go again) a small gap against the trend on an early Monday morning is a strong candidate for a filling in. AUD/USD has since traded to a fresh trend high and above last week's highs. The strength looks set to continue.
Japanese yen traded a little lower in the Tokyo morning and then popped on the release of the Machine orders data - the data was a net yen positive but that didn't stop it from weakening. It tested (very briefly) to 114 and is below there as I update at more or less its session mid point.
EUR/USD: during the Asian session the pair traded in the range of $1.1140-75
GBP/USD: during the Asian session the pair traded in the range of $1.4365-85
USD/JPY: during the Asian session the pair traded in a range Y113.65-00
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