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14 Jan 2015
Market Movers: Copper leads AUD/USD’s fall, Yen strengthens
FXStreet (Barcelona) - Midday reversal to the downside in the US session has translated into a similar performance in Asia, where Nikkei225 and Sydney are falling while Shanghai and Composite are holding on to modest gains.
The volatile US session and the negative indices close reciprocated in the Asian equity markets, with Nikkei 225 down 1.71% at 16795.96, and Shanghai Composite Index down 0.40% at 3222.44 . The Asian session was largely dominated by the sharp fall in copper, losing 7.2% at one point, causing other metals to trade soft.
AUD/USD was dragged lower by weak copper, losing 0.82 % (daily basis) to currently trade at 0.8104. Risk aversion saw increased demand for JPY, which dragged USD/JPY to make a fresh low at 116.75, presently trading at 117.03, down 0.62%.
GBP/USD is above the 1.52 handle, higher by 0.26% at 1.5208, followed by EUR/USD which has climbed 0.20% to trade slightly above the 1.18 handle.
Gold Futures are down 0.40% at USD 1228.63/Oz. WTI Crude Futures and Brent Crude Futures both are down as well, trading at USD 45.96/ barrel and USD 46.99/ barrel respectively.
The top gainers in the FX Space are EUR/TRY (1.12%), EUR/AUD (+1.07%) and GBP/AUD (1.06%). AUD/JPY at 94.7900, down 1.52%, is the top loser, followed by ZAR/JPY (-1.23%) and MXN/JPY (-1.16%).
Key highlights of the day:
Aussie in free-fall on massive copper selling
The volatile US session and the negative indices close reciprocated in the Asian equity markets, with Nikkei 225 down 1.71% at 16795.96, and Shanghai Composite Index down 0.40% at 3222.44 . The Asian session was largely dominated by the sharp fall in copper, losing 7.2% at one point, causing other metals to trade soft.
AUD/USD was dragged lower by weak copper, losing 0.82 % (daily basis) to currently trade at 0.8104. Risk aversion saw increased demand for JPY, which dragged USD/JPY to make a fresh low at 116.75, presently trading at 117.03, down 0.62%.
GBP/USD is above the 1.52 handle, higher by 0.26% at 1.5208, followed by EUR/USD which has climbed 0.20% to trade slightly above the 1.18 handle.
Gold Futures are down 0.40% at USD 1228.63/Oz. WTI Crude Futures and Brent Crude Futures both are down as well, trading at USD 45.96/ barrel and USD 46.99/ barrel respectively.
The top gainers in the FX Space are EUR/TRY (1.12%), EUR/AUD (+1.07%) and GBP/AUD (1.06%). AUD/JPY at 94.7900, down 1.52%, is the top loser, followed by ZAR/JPY (-1.23%) and MXN/JPY (-1.16%).
Key highlights of the day:
Aussie in free-fall on massive copper selling