The USD traded in a small range only here today. AUD, NZD, CAD all moved a little higher while EUR, GBP, CHF are really not a lot net changed. Oil has been steady. Gold moved higher but ran out of steam above US$2932. Earlier in the week it topped just over US$2940 and its not going to just waltz through that top without doing some work in the area first.
USD/JPY was a bit more active, continuing its Thursday down trend initially, to lows just under 152.50 before bouncing back to 153.00.
News and data flow was light.
We had NZ data, the January manufacturing PMI moved into expansion for the first time in 23 months! An inflation measure, the Food Price Index, jumped from +0.1% m/m in December to +1.9% in January. The Reserve Bank of New Zealand meet next Wednesday and the consensus is for a 50bp cut.
From Singapore we had Q4 GDP growth coming in higher than estimated.
From the Japanese parliament, Junko Koeda, nominated to join the monetary policy board of the Bank of Japan, was approved in a lower house vote. The upper house votes next Wednesday and given the government majority seems assured of taking her place at the big table.
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about forexlive asia pacific fx news wrap usd jpy with a small bounce was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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