- Huge moves in NY overnight, and here’s a re-cap via Jamie’s wrap
- Chinese Premier projects that China will still grow at 8% but he’s also worried about Chinese assets in the US.
- Regional Asian stock markets make significant gains
We had a relatively quiet trading session in Asia although most pairs traded up and down on multiple occasions inside fairly tight ranges. Early profit taking on the JPY crosses took EUR/USD below 1.2900 briefly and trailing stops in the AUD/USD saw that pair slip to it’s intraday low at .6507.
The Swiss National Bank is expected to be on the bid at 1.5180 in EUR/CHF. Option barriers are expected at 1.3000 in EUR/USD with stops above. A close above the 100-day MA in the AUD/USD would be a significant bullish technical event.
Gold is steady around $924/oz, oil has slipped back below $46/bbl ahead of the OPEC meeting. The Shanghai index was up almost 0.5% and the Nikkei was up almost 5%.
Ranges: EUR/USD 1.2887/1.2934, USD/JPY 97.15/98.06, Cable 1.3880/1.3954, AUD/USD .6512/64, USD/CHF 1.1843/1.1919, EUR/CHF 1.5297/1.5398 and EUR/JPY 125.40/126.60.
