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Dealers report quiet conditions in early trade

By Sean Lee || October 27, 2009 at 22:42 GMT

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Let’s hope we see a bit more action than happened yesterday but so far it doesn’t look promising. The last two hours has seen the majors trading in 10 pip ranges which can be explained by the fact that there are no stops close by for the interbank dealers to chase after. Selling interest in USD/JPY 92.30/40/50 with stops above 92.65. Not hearing anything at all from EUR/USD or the AUD/USD which is unusual.

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Category: All, Asia, Mkt Talk
Tags: AUD/USD, EUR/USD, USD/JPY

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2 Responses to “Dealers report quiet conditions in early trade”

johnmmcconnell on October 27th, 2009 22:56 GMT

Sean I think some serious risk aversion should be expected during Asia and Europe. All of the bad data in the U.S. today should have weighed on risk more than it did, so now it has to catch up with what it should have done earlier. Additionally, there are no upcoming news events that have the potential to give anybody hope this week…
Sean Lee on October 28th, 2009 05:03 GMT

You got that one right John, I’m hoping we see an extended period of this JPY cross selling now

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