- Japan FinMin: State of Fukushima nuclear power plant still very precarious. Situation not getting worse, but no time for complacency
- German February business climate 111.1, above median forecast of 110.5
- French March consumer confidence falls to 83.0, from 85.0 in February, weaker than median forecast of 84.0
- China Central Bank: Dollar could weaken in 2011
- IEA chief economist: Says oil prices entered dangerous area in terms of global economic recovery
- Juncker: No one should underestimate the reform of the stability pact . Doesn’t expect Portugal to seek emergency financial help
- Portuguese 10-year govt bond yield rises through 8%
- Bank of Korea intervenes to curb strength of won -Traders
- A nation of dropouts shakes Europe – WSJ
Should have gone fishin, or done something a little more worthwhile with my time this morning. Very sluggish, uninspired fare indeed.
EUR/USD sits at 1.4170 from 1.4175 when I arrived 6 hours ago, which says it all really. Had a little move higher and then a little move lower. But all we really managed to do is slightly widen the overnight Asian range of 1.4148-1.4184 to 1.4138-1.4193 (and I’m not entirely sure we traded as low as 1.4138)
Sell orders clustered 1.4200/10 and more 1.4240/50. Buy stops through 1.4260 and more through 1.4280. Buy orders noted 1.4100/20, stops below there.
USD/JPY marginally firmer at 81.25 from early 81.00. Been as high as 81.38, with well-documented sell orders at 81.30/50 so far proving durable. Some stops said to be lined up just above 81.50. Hedge fund seller seen around this morning’s highs.
Cable down at 1,6095 from early 1.6125, having been as low as 1.6059. Pairing saved by strong bout of profit taking from UK clearer with strong Far Eastern ties, who had been notable seller in recent days.
AUD/USD up at 1.0242 from early 1.0215. Central bank buyer seen this morning. We’re closing in on well-documented buy stops said to lie in the 1.0260/65 area.
