Profit-taking spree hits Asia, Central banks’ events – In spotlight

By FXStreet FXStreet (Mumbai) – Asian traders resorted to profit-taking after the recent rally witnessed across the financial markets. While liquidity seeped back in Asia as the Chinese traders returned to markets after a week-long break. Amongst the G10 currencies, the yen, the euro and the Swiss franc were best performers amid a mild-risk-off seen this session.

Key headlines in Asia

RBA publishes paper on modelling the AUD

Silver drops on profit-taking after a 4-day rally

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

There was nothing much to report in Asia, except for the mixed Japanese datasets which had little influence on the USD/JPY pair. The major extended the slide into a third day today as the yen remains better bid amid a slight risk-aversion and lower Japanese stocks. While the USD edged lower versus its major peers, down -0.07% at 95.58.

Calendar-wise, Core machine orders dropped -5.7%, below expectations for an increase of 3.3%. While Japan’s Current account data came in above expectations at JPY1653.1B in August versus JPY1221B expectations.

While the Antipodeans slipped on profit-taking after recording fresh multi-week highs on Wednesday. The Aussie was the biggest loser and dropped -0.44% to 0.7174, unable to resist 0.72 barrier. While the Kiwi …read more

Source:: FX Street