A low-key affair in Asia, BOC – Next in focus

By FXStreet FXStreet (Mumbai) – Risk-sentiment rebounded in yet another quiet Asian session today, with the Asian equities trading firmer led by Japan’s Nikkei. Amongst the G10 currencies, the euro and the Aussie were the top gainers while USD/JPY finally conquered 120 handle.

Key headlines in Asia

Nikkei 225 surges by almost 1% at the open

Key events ahead: focus on BoC and OPEC – Westpac

Dominating themes in Asia – centered on JPY, AUD, NZD

US dollar traded largely subdued against its major competitors in Asia, correcting heavy gains booked yesterday following better than expected US housing starts data. The US housing starts rose 1.21 million in Sept versus an expected rise of 1.14 million. However, the dollar-yen pair shrugged off broad based US dollar weakness and remains bid, finally reaching 120 barrier now, as the yen loses ground on the back of dismal Japanese trade figures. The trade deficit shrank to JPY114.5 billion in Sept against expectations of a trade surplus of around JPY87 billion in the reported month.

The Antipodean currencies trade mixed, as markets continue to digest their respective fundamentals. The Aussie remains well supported on optimistic RBA minutes while awaiting tomorrow’s NAB Quarterly business confidence numbers. While the Kiwi …read more

Source:: FX Street