Pacific round-up, Gold and Stimulus drive trends

07 December 2009 @ 10:50 pm EDT

FXstreet.com (London) - Pacific crosses across the board look as follows, mid-way through the Asian session: AUD/USD 0.9134/39 (+0.09%), NZD/USD 0.7144/47 (+0.2%), AUD/JPY 81.27/34 (-.485), NZD/JPY 63.54/8 (-0.42%).

As all pairs look to US for broader macro indicators on global economic growth, Asian session price action is likely driven by two key factors.

AUD following gold as it firms +$30 from yesterdays lows, and JPY pull-back reaction to new economic stimulus package from Japanese government, including plans to stop an ever-strengthening Yen that is damaging the economic recovery.

This will however have impact on JPY local trading partners, whose export economies are competitively intertwined with Japanese exporters.

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