After the initial selloff in most pairs this morning, with Japan out for a public holiday, the remainder of the day was spent in tight ranges as the market awaits London’s take on the current state of the financial markets. It should be noted that most currency pairs are not far off levels which are significant if broken.
Australian equities fared reasonably well considering the performance in the US overnight with the market finishing down only -0.4% on the day. Hong Kong on the other hand was a little less of a star with it currently off 3.2% at the time of writing.
Data was light on today with Japan out, but we certainly make up for it tonight with important data out in the UK, as well as notable figures speaking throughout the world from the UK’s BOE, the US Fed and the US Treasury.
For a detailed list of tonight’s economc data releases please click here.
Ranges for today: EURUSD 1.2846/1.2930, USDJPY 90.27/90.55, GBPUSD 1.4467/1.4565, AUDUSD 0.6515/0.6601, EURJPY 116.09/116.97, EURCHF 1.4912/1.4949, EURGBP 0.8856/0.8916.
Market Talk:
USDJPY – Hearing of significant stop loss orders below 90.00.
AUDUSD – Sold off after worse than expected Chinese Trade numbers.
Important Stories:
This article on the stimulus plan is a good one worth reading.
China’s exports at lowest level in a decade.
