Good morning everybody and good luck trading today.
EUR/USD is in the middle of its’ weekly range of 1.2710-1.3070 roughly. Cross plays continue to dominate with EUR/GBP being the main mover in Europe and the US. We can expect EUR/JPY to be the main mover in Asia with the first move probably going to be modestly up after the mild sell-off overnight.
USD/JPY tells the same old story. Dealers are selling ahead of sell orders at 90.00 and are picking them back up around 89.00. Most people in the know expect the sellers to eventually win out and for this pair to fall further and test the BOJ resolve at 87.00-10.
AUD/USD is also mid-range with the parameters at .6250 and .6550. Bank dealers are starting to see corporate interest to buy on dips again with some Chinese buying also rumoured. This is linked with the recent modest upturn in commodity demand.
