Back
26 Jan 2015
Asia Recap: Historical victory by Syriza in Greek election
FXStreet (Bali) - The landslide triumph by the left-wing Syriza party in Greek's national elections was the main theme in Asia, with the new designated PM Tsipras expected to form a new coalition government with ANEL by early Wednesday.
EUR/USD saw an acceleration of its losses towards 1.1097, from where a strong rebound led the shared-currency to fill the Asian gap by retesting the 1.12 NY close before liquidity dried up, resulting in a retrace towards 1.1150 (today's Asian retail open).
AUD/USD traded in a tight range between 0.7860 and 0.7905 with the Australian market closed due to national holidays. Wednesday's CPI numbers and the FOMC outcome are the two main risk events for the pair this week, which remains fragile to further losses after the clear breakout of 0.80 last week, with RBA rate cuts being priced in.
USD/JPY saw an early slide towards key support at 11.25, from where the price spiked back up towards 117.85, underpinned by negative USD flows via EUR/USD purchases off 1.11. The pair eventually settled around 117.50/55, with the Nikkei 225 down over 0.7%.
Main headlines in Asia
Greek election: Projections show Syzira as winner, absolute majority up in the air
Significant shifts in CHF spec positioning - TDS
Tsipras: Troika era is over for Greece
NZ PM Key: Kiwi to enter range, ECB QE not silver bullet
Japan Adjusted Merchandise Trade Balance: ¥-712.067B (December) vs previous ¥-925.01
Japan Merchandise Trade Balance Total above forecasts (¥-740.3B) in December: Actual (¥-660.7B)
Japan Imports (YoY) below expectations (2.3%) in December: Actual (1.9%)
Japan Exports (YoY) came in at 12.9%, above forecasts (11%) in December
BoJ minutes: Bank will make QE adjustments as appropriate
BoE's Forbes: Rate hikes may be needed earlier-than-expected
Syriza-ANEL coalition deal imminent
Watch for increase in daily EUR risk headlines
EUR/USD saw an acceleration of its losses towards 1.1097, from where a strong rebound led the shared-currency to fill the Asian gap by retesting the 1.12 NY close before liquidity dried up, resulting in a retrace towards 1.1150 (today's Asian retail open).
AUD/USD traded in a tight range between 0.7860 and 0.7905 with the Australian market closed due to national holidays. Wednesday's CPI numbers and the FOMC outcome are the two main risk events for the pair this week, which remains fragile to further losses after the clear breakout of 0.80 last week, with RBA rate cuts being priced in.
USD/JPY saw an early slide towards key support at 11.25, from where the price spiked back up towards 117.85, underpinned by negative USD flows via EUR/USD purchases off 1.11. The pair eventually settled around 117.50/55, with the Nikkei 225 down over 0.7%.
Main headlines in Asia
Greek election: Projections show Syzira as winner, absolute majority up in the air
Significant shifts in CHF spec positioning - TDS
Tsipras: Troika era is over for Greece
NZ PM Key: Kiwi to enter range, ECB QE not silver bullet
Japan Adjusted Merchandise Trade Balance: ¥-712.067B (December) vs previous ¥-925.01
Japan Merchandise Trade Balance Total above forecasts (¥-740.3B) in December: Actual (¥-660.7B)
Japan Imports (YoY) below expectations (2.3%) in December: Actual (1.9%)
Japan Exports (YoY) came in at 12.9%, above forecasts (11%) in December
BoJ minutes: Bank will make QE adjustments as appropriate
BoE's Forbes: Rate hikes may be needed earlier-than-expected
Syriza-ANEL coalition deal imminent
Watch for increase in daily EUR risk headlines