- Economic Goings On:
- Surprise jump in Australian full-time employment.
- US stimulus bill cleared for Senate and House votes.
- BHP may spoil the Chinalco/Rio party.
- Triple A countries at risk from Moody’s.
- For a table outlining today’s data so far and what is still to come please click here. For a full list of the coming economic events please visit the ForexLive Economic Calendar.
- Australian Senate votes AGAINST Government Stimulus Plan.
The only real excitement for the afternoon came with the announcement that the government’s stimulus plan failed to gain the required support in the senate in a 35 all tied vote. This saw the AUDUSD drop 50 points in the blink of an eye, falling from 0.6580 to 0.6530 before trying to regain some lost ground and currently trading at 0.6550.
Order books are light with EUR/JPY bids at 115.00-10 and offers around 117.50. AUD/USD sees corporate buying interest at .6460-70 and offers from investment funds at .6660-70. EUR/USD is dominated by large option interest. There has been some large volume in the cable today, unusually for this time zone, with competing European interests buying and selling.
Equity Markets: Australian All Ords 3458.5 +40.40 +1.18%, Hang Seng 13,539.21 -305.89 -2.26%, Nikkei 7,7747.28 -198.66 -2.50%.
Currency Ranges: EURUSD 1.2855/1.2944, USDJPY 89.88/90.41, GBPUSD 1.4337/1.4414, AUDUSD 0.6510/0.6617, EURJPY 115.91/116.70, EURGBP 0.8952/0.8990, EURCHF 1.4924/1.4974.
