With Japan markets out for a holiday today (National Foundation Day), liquidity is diminished in the Asian timezone today.
Hasn’t stopped a bit of a pop for AUD, EUR, and GBP.
The AUD is higher after the release of local data a few minutes ago, with business confidence notably improving:
- National Australia Bank business confidence for January: 8 (prior was 6)
- Australian housing finance for December: Home loans -1.9% m/m (expected +0.7%)
- Australian House Price Index: 3.4% q/q (vs. expected 3.0%)
AUD orderboard is here - we are approaching offers around 0.9000 but there are stops above 0.9005. It will take some time, though, to work through the offers.
EUR and GBP didn’t want to be left behind, it seems, with EUR/USD popping through overnight highs after a decent sideways consolidation. Cable … well … go figure?
