AUTOREFRESH 
ForexLive Asian market wrap: stop-loss hunting but little else
- New Zealand YoY current account deficit 2.4% of GDP
- Fitch ratings moderately positive on Spain
- FOMC tonight expected to make no policy changes
- UK budget statement has been generally well received by the financial press
- Yuan official mid-rate set at 6.8102
- Regional bourses fall by 1.25% on average
There was some early stop-loss hunting but it has otherwise been an uneventful day with the losses on the Nikkei being more-or-less ignored.
AUD/USD was the first pair to try and trigger stops below .8690 and despite at least two strong attempts, the market could not break lower. Bounces have also been quite shallow. Ranges: .8689/.8736
EUR/USD was the second pair to try and generate some momentum through stop-loss hunting but again the stops, this time below 1.2240, remained untouched. 1.2150/80 is looming as pivotal short term support with a break below there setting up new lows according to one investment bank analyst. EUR/CHF failed to make fresh new lows and this eased pressure on the EUR/USD. Ranges: 1.2245/78; EUR/CHF 1.3586/1.3613
USD/JPY traded in a 20 pip range 90.38/58 and EUR/JPY 110.70/111.21.
Sterling made strong gains overnight overnight after the budget statement and has consolidated these, with EUR/GBP trading a 16 pip range, .8271/87 and cable 1.4804/35.
Markets: Nikkei -1.7%, HK -0.3%, Korea -0.3% Sydney -1.2%. Gold steady at $1240/oz.
Well done, Sean in an overall lackluster market… See you tomorrow!