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26 Jun 2013
Session Recap: Majors little changed; Gold breaks below $1250
FXstreet.com (Barcelona) - The session started soft for Yen and USD against most majors but soon things turned around as soon as Tokyo opened and Yen started to pick up steam as risk aversion rose, sending USD/JPY down to session lows around the 97.60 level, from session highs at 98.25.
EUR/USD tried to get closer to the 1.31 handle but sellers outnumbered buyers and the pair dipped to fresh 3-week lows down to 1.3056, just to be trading last around the 1.3069, while Gold recovers some ground last at $1253 from a massive sell-off that took the precious metal to fresh almost 3-year lows below the $1250 mark.
With no major economic news hitting the wires, local share markets traded in a mixed way with Shanghai having another down day last at -1.32%, while Nikkei index totally reversed initial gains to now trade in the negative. Korean Kospi is about to break even, with Australian ASX up +1.53%, and Hong-Kong's Hang-Seng +1.11%.
Main headlines in the Asian Session:
US Treasury Sec. Lew : US economy is stronger than some expected
Japanese politics: Abe to easily win July 21 election – then no further elections for 3 years
Bank of England Miles: Should not rush to return monetary policy to normal, more support for demand may be needed
Round II: EU Fin Min meet to resolve 'bail-in rules'
China rate swaps drops most since 2008 as PBOC takes pressure off the rate squeeze
PBOC to foster stability of Chinese money-market
Metals keep digging deeper
USD/JPY dips below 98.00 on Yen strength
EUR/USD feeling the selling pressure; holds above 1.3050
EUR/USD tried to get closer to the 1.31 handle but sellers outnumbered buyers and the pair dipped to fresh 3-week lows down to 1.3056, just to be trading last around the 1.3069, while Gold recovers some ground last at $1253 from a massive sell-off that took the precious metal to fresh almost 3-year lows below the $1250 mark.
With no major economic news hitting the wires, local share markets traded in a mixed way with Shanghai having another down day last at -1.32%, while Nikkei index totally reversed initial gains to now trade in the negative. Korean Kospi is about to break even, with Australian ASX up +1.53%, and Hong-Kong's Hang-Seng +1.11%.
Main headlines in the Asian Session:
US Treasury Sec. Lew : US economy is stronger than some expected
Japanese politics: Abe to easily win July 21 election – then no further elections for 3 years
Bank of England Miles: Should not rush to return monetary policy to normal, more support for demand may be needed
Round II: EU Fin Min meet to resolve 'bail-in rules'
China rate swaps drops most since 2008 as PBOC takes pressure off the rate squeeze
PBOC to foster stability of Chinese money-market
Metals keep digging deeper
USD/JPY dips below 98.00 on Yen strength
EUR/USD feeling the selling pressure; holds above 1.3050