- BOJ will take additional steps if necessary
- Beijing and Shanghai new home prices -0.8% YoY
- BHP iron ore production +14% YoY
- IMF still sees Australia as fastest growing developed economy
- ZAR rallies strongly overnight after WGBI inclusion
- Bank of Korea reserve management chief says Gold’s importance as reserve asset is growing
- New Zealand consumer confidence index 114, up from 110.2 last month
- Nikkei +1.7%; other regional Bourses +1% on average
- Gold $1651/oz; Oil $104.50/bbl
The market has carried on from overnight leads, with equity markets higher and the JPY crosses in demand.
USD/JPY opened near 80.90 but has gradually moved higher as positive risk sentiment led to buying in the Yen crosses. Corporate sell orders near 81.40 slowed the progress but pullbacks have also been rare. Ranges: 80.85/81.42; EUR/JPY 106.13/88
AUD/USD has consolidated above 1.0400 with AUD/JPY buying the main factor. A solid report from BHP and the overnight IMF report all improved sentiment. Ranges: 1.0385/1.0415
EUR/USD is hemmed in on both sides by big Sovereign interest and is unable to move too far; we saw a 1.3107/40 range.
Cable traded 1.5914/41 with some risk events looming later today and EUR/CHF traded 1.2008/18
