Currency Updates:
The Australian Dollar( AUD): The AUD continued a new trend low of 0.8923 as copper spiked down near $2.905/91. RBA deputy Governor Philip stated that RBA is comfortable with how the economy is tracking. Short recovering started on the pair to a high of 0.8997. Main focus in Asia session will be the OZ jobs report, if it disappoint again, AUD is likely to get hit hard and RBA may have to rethink their recent neutral rate bias.
AUD/USD: Range trading still in play, major support 0.8880-90 and resistance at 0.9130.
EUR/USD: The pair initially dropped to a low of 1.3843 but got lifted by German Fin Min Schaeuble’s statement that interest rate levels are too low for the medium term. The pair spiked immediately above 1.3900. Resistance at 1.3930.
NZD/USD: RBNZ decided to increase interest rate to 2.75% this morning, resistance at 0.8552 and 0.8581.
USD/JPY: The pair dropped to a low of 102.54 and just ahead of daily Tenkan & 50% of then 101.20-103.77 rise at 102.49. Japanese bid at 102.50. Retail sales data will be the major event for the pair, a good data could help the pair rise back up above 103.
Looking Ahead – Economic Data (GMT)
• 20:00 NZ Cen bank interest rate N/A f/c 2.75%, 2.50%-prev
• 21:45 NZ Food price index Feb 1.20%-prev
• 23:50 JP Foreign bond investment w/e -759.0b-prev
• 23:50 JP Foreign invest JP stock w/e -4.1b-prev
• 23:50 JP Machinery orders mm Jan f/c 7.00%, -15.70%-prev
• 23:50 JP Machinery orders yy Jan f/c 18.80%, 6.70%-prev
• 00:30 AU Employment Feb f/c 18000.00, -3700.00-prev
• 00:30 AU Fulltime employment Feb f-7100.00-prev
• 00:30 AU Participation rate Feb f/c 64.50%, 64.50%-prev
• 00:30 AU Unemployment Feb f/c 6.00%, 6.00%-prev
• 05:30 CN Urban investment (ytd)yy Feb f/c 19.40%, 19.60%-prev
• 05:30 CN Industrial output yy Feb f/c 9.50%, 9.70%-prev
• 05:30 CN Retail sales yy Feb f/c 13.50%, 13.60%-prev
