• S. Korea PPI rises 0.3% , now setting up a $4.1 billion stimulus package this year .
  • Samaras meeting today with EU,IMF,and ECB delegation , I do believe he meets with Super Mario on Tuesday and the Greek party leaders again on Wednesday.
  • New Zealand 2nd qtr. manufacturing activity rose 0.3% , operating income fell 1.1 %.
  • UK Lloyds August employment prospects rose to -43 from -51, Business confidence fell to 89.1 and gauge of output fell to 90.8 from 93.9 .
  • Japan Trade Deficit at 373.6 bln Yen , 2nd qtr GDP revised down to 0.7% _MNI .
  • Japan July current account surplus fell 40.6 % -MNI
  • Japan August bank lending rises 1.1% -MNI
  • J.P. Morgan lowers China GDP to 7.6% in 2012 and 8.3 % in 2013 .
  • Nomura lowers China GDP to 7.7 % in the 3rd qtr and 8.1 % in 2012 .
  • Australia July home loans fell 1 % most in five months as high interest rates discouraged buyers .
  • PBOC likely to to announce RRR cut this week.
  • China trade surplus at $26.661 . imports (fell 2.6%, expected rise of 3.5% ) and exports rose 2.7 % ( 3.0 % expected ) .
  • China Industrial Production fell to 8.9 % y/y – RTRS

After the fireworks Friday with the US non-farm employment numbers , the market took this time to catch it’s breath and consolidate below closing levels . The disappointing China numbers had very little effect on the dollar along with the weaker numbers out of Japan doing the same . We now wait on the FOMC and further news out of Europe .

EUR/USD slowly drifted lower from opening levels near the highs around 1.2805/10 to the lows currently at 1.2783/86 . Some buying interest at 1.2750/60 and resistance up at the 1.2835/45 .

USD/JPY having a 100 point range on Friday , continued in its comatose range of 78.20/30 during this session .Support again being mention at 78.00/10 , with stops below . Resistance up at 78.50/60 and through to 79.00

AUD/USD again abit softer most of the session , starting at the highs of 1.0380/85 to lows after the China trade numbers of 1.0360/65. Selling interest up ahead of 1.0400 (barrier ) with buyers below at 1.0350/55 .

Have A Good Day .