ForexLive Asia Wrap Up
Written by Ed Thomas
July 12, 2012 at 04:33 GMT
New Zealand June PMI at 50.2 vs. May at 55.8 lead by weaker employment and deliveries. New Order Index fell to 51.2 from 56.5.
New Zealand June Food Prices rise 1.4%.
New Zealand July Consumer Confidence rose 4.4%. Index rises to 110.5 from 105.8.
Japan FM Azumi wants BOJ to support economy further. Expects BOJ policy effect to emerge gradually. Says recent CPI decline due to cheaper oil prices.
Bank of Korea unexpectedly cuts key interest rate 0.25% to 3 %, joins others in response to the effects of a global slowdown . Sites increase in euro-zone risks and the sluggish economies of its major trading partners.
Australia June Employment Fell by 27 K , forecast were for unchanged . The jobless rate rose to 5.2% from 5.1%.
Gillard responds stating Australia has low jobless rate by world standards and its economy is the envy of the world.
BOJ keeps policy on hold , sticks to recovery veiw-rtrs
Eur : Was pretty much a non-event today with one test of the bids rumored around 1.2220 level, we are currently trading near highs of the session at 1.2245.
JPY : Quietly drifted lower from the start of the session at 79.75 as market awaits BOJ rate decision. Knee jerk reaction to the release saw the 79.95 pop then back off to to 79.65 . Love when that happens .
AUD; Traded quietly most of the session around the 1.0245/50 level until worse than expected employment numbers saw a quick 40 pip drop to just above the 1.0200 . After initial support at 1.0190 aud now looking to test lower . With uncertainty over upcoming China GDP lower level might be tested .
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