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Session Recap: China trade takes Aussie, Kiwi off lows; Euro hardly finds buyers

Both the Kiwi and the Aussie Dollar were the marginal beneficiaries of a slow Asian session, in which corrective counter-trend moves were observed.

The only little excitement came on the strong Chinese trade balance figures, which led to bargain hunters to reinstate a very short-term bid tone on the Oceanic currencies.

The Euro, meanwhile, after the bloodbath post the ECB risk event, has consolidated near lows below the 20EMA on the daily chart, which caps prices.

Main headlines in Asia

- Wall Street closes lower on mixed economic data

-BoJ candidates Mr. Iwata or Mr. Ito the most bearish for Yen - Nomura

- What if USD/JPY rally only a 25% discount of Japan's policy succeeding? - HSBC

- Japan Current Account n.s.a. ¥-264.1B in Dec

- AUD/USD, breakout of 1.03 confirms bear domination

- RBA monetary policy statement: GDP cut on subdued investment, inflation outlook

- Aussie picking up; China trade exports/imports surge YoY

- Bloomberg article: China Denies Using Weapons-Targeting Radar on Japanese Ship

Australian Treasurer Swan addressing the media
- China Consumer Price Index (YoY) 2% in Jan

Forex: GBP/USD back above 1.5700

Following better than expected trade balance figures coming out of China, and latest CPI in line with expectations at 2% YoY, down from previous at 2.5%, Cable is near session highs last at 1.5734, off yesterday's highs post Carney's hearings at 1.5770. The pair is higher for the week by some +0.25%, with weekly highs Tuesday at 1.5805, and lows at same day 1.5629.
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