- Germany’s lawmakers from the ruling coalition want to cut the deficit to zero by 2014 .
- S. Korea Current a/c surplus at 4.38 bln. highest in 14 years due mostly from falling imports. Shows signs of slowing domestic growth .
- Australia Q2 construction work done down 0.2% , prior quarter was revised upwards to 7.8% from 5.5%.
- Republicans Anoint Romney-wsj
There was no “fix action” tonight , just watching the water drip out of the faucet . I guess with month- end , summers-end , long week-end , and Jackson hole-end approaching, the best thing about tonight is that it’s almost session-end.
EUR/USD slowing drifted lower from it’s highs of 1.2570 to the lows here at 1.2553/55 . Some support at 1.2525/35 level , resistance starting 1.2590 through 1.2600 with stops above 1.2625.
USD/JPY was range bound 78.63/78.50, with only brief signs that the currency pair was still breathing . Bids at the 78.50 level, mixed stops/bids 78.25 through 77.90. Offers again up at 79.00 with stops above.
AUD/USD started from the highs of 1.0477 and was again weighed down by talk of continued slow growth in China and Soft commodity prices . AUD/USD found a little support at 1.0350/55 but offers now up around the 1.0380 through to 1.0400 level , keeping it in a very narrow range.
- BOJ Deputy Governor Yamaguchi speaks later. (03:00 GMT)
- Swiss Government holds regular meeting. (07:00 GMT)
- Greek Coalition Party Leaders Meeting (07:00 GMT)
- Merkel host Monti for Euro talks (12:15 GMT)
