AUD bulls in control on upbeat data, UK Services PMI – Up next
By FXStreet FXStreet (Mumbai) – Renewed optimism hit Asia, with markets cheering positive sentiment on the Asian equities while the Australian dollar was the biggest gainer amongst the risk-on currencies, backed by upbeat fundamentals. USD/JPY hovers around post-FOMC highs above 121 handle ahead of the key US jobs data and Yellen’ speech due later today.
Key headlines in Asia
Australian Sept retail sales bang on consensus
Japan Post Bank Co to step up shift from JGBs to equities – Reuters
China Oct Services PMI at 3-month high
Australia Trade Balance came in at -2317M, above forecasts (-2800M) in September
Dominating themes in Asia – centered on JPY, AUD, NZD
Risk-on sentiment was in full swing in the Asian sentiment as impressive economic news from Australia and China injected renewed wave of optimism in markets. While rallying Japanese stocks on the back of Japan Post Bank Co’s debut, drove other Asian indices higher.
The improved appetite for risker assets benefited AUD/USD the most. The positive sentiment around the Aussie was further boosted by upbeat Aus trade balance and retail sales data. Australia’s shrank by more than markets expected in September. The deficit narrowed from $2.71 billion in August to $2.32 billion in September. While retail sales …read more
Source:: FX Street
