- IMF call for more BOJ easing
- BOJ survey: Bank loan demand rising
- Japan’s tertiary index unchanged MoM
- Australian export prices fall heavily, -7.0% QoQ with import prices -1.2% QoQ
- German FinMin: Tax revenues +7.2% YoY
- BOE’s Posen: UK economy stronger than data shows
- Regional stockmarkets -0.3% on average; Kospi -1.25%, Shanghai +0.4%
- Gold $1643/oz; Oil $102.50/bbl
USD/JPY has traded quietly in a tight range with few flows to speak of. Corporate sell orders continue to slow down any rallies and the IMF comments regarding further BOJ easing failed to inspire any activity. Ranges: 81.54/71
AUD/USD did consider an attempt to take out recent lows below 1.0300 but couldn’t create any momentum. Dealers say that flow activity was very low. The steep fall in export prices doesn’t bode well for the mining industry and would seem to enhance the chances of a rate cut in 10 days time, if this trend repeats in the CPI data. Ranges: 1.0305/45
EUR/USD has again been very quiet in a 30 pip range and there have been few cross flows to create enthusiasm, 1.3127/55
Cable 1.6035/62; EUR/CHF 1.2015/20
