- Gold loses 1.25%, oil falls 0.75%, as traders take risk off the table pre-NFP
- Japan will avoid issuing deficit-covering bonds
- Stimulus plan to be unveiled by Hatoyama
- China blames foreign banks for derivatives losses
- NZ FinMin says company profits to suffer for some time to come
- Regional stockmarkets end the week in mixed fashion
Another very insipid day today with all of the majors trading in very tight ranges. USD/JPY has traded in an 88.00/41 range with shorts still happy to cover on dips back below the previous pivotal 88.00 and longs booking profits after the break last night above 88.40 failed to attract fresh momentum.
Again EUR/USD has had a very tight range in Asia, this time ony 28 pips, 1.5039/67 with only EUR/JPY flows adding any liquidity. Sterling has also been quiet with cable trading 1.6522/62.
The AUD/USD has had a soft trading day after the renewed failure overnight at .9325. Range: .9215/50
Markets: Nikkei +0.3%, HK -0.4%, Kospi +0.4%, Sydney -1%. Gold -1.25% at $1203/oz.
