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9 Oct 2013
Session Recap: Yellen to be nominated as Fed Chair today
FXstreet.com (Barcelona) - The Asian session was dominated by the news that Yellen is set to be nominated Fed Chair later today - at 3pm eastern time Obama should make the announcement -, which led to an initial USD sell-off that rapidly faded , with the explanation behind the move being that such Yellen news are mostly factored in the market since Summer's drop.
EUR/USD was snapped back up towards 1.36 resistance, yet in a move very much mirroring its first 1.36 test this week, sellers were quickly to react and reject the price back towards 1.3550 equilibrium level. AUD/USD had a similar price action activity, only difference being that the resistance in this case is 0.9450 and the level where demand continues to be noted if 0.9410.
Amid the US fiscal disagreement, and with no enhanced prospects of being resolved today, the Yen performed surprisingly weak, although if one take a glimpse at the Nikkei 225, up +0.5%, is no wonder the Japanese currency had a bad session as the correlation between both assets remains on a heavy inversely correlated path.
Main headlines in Asia
Nomura's client survey on USDJPY
Obama set to announce Yellen as new Fed chair at 3pm ET Wednesday
Australia Westpac Consumer Confidence down to -2.1% in October from 4.7%
What to make of Yellen's upcoming appointment as Fed Chair?
BoJ minutes: QE to be pursued as long as necessary
RBA cut still most likely scenario Q1 2014 - Westpac
EUR/USD was snapped back up towards 1.36 resistance, yet in a move very much mirroring its first 1.36 test this week, sellers were quickly to react and reject the price back towards 1.3550 equilibrium level. AUD/USD had a similar price action activity, only difference being that the resistance in this case is 0.9450 and the level where demand continues to be noted if 0.9410.
Amid the US fiscal disagreement, and with no enhanced prospects of being resolved today, the Yen performed surprisingly weak, although if one take a glimpse at the Nikkei 225, up +0.5%, is no wonder the Japanese currency had a bad session as the correlation between both assets remains on a heavy inversely correlated path.
Main headlines in Asia
Nomura's client survey on USDJPY
Obama set to announce Yellen as new Fed chair at 3pm ET Wednesday
Australia Westpac Consumer Confidence down to -2.1% in October from 4.7%
What to make of Yellen's upcoming appointment as Fed Chair?
BoJ minutes: QE to be pursued as long as necessary
RBA cut still most likely scenario Q1 2014 - Westpac