No point in letting this drag on any longer, let’s wrap it up and put us out of our misery.
- Japanese industrial output rose sharply in May
- As many as 15 European banks may fail latest bank stress tests, results due July 13th
- Portugal plans tougher austerity measures
- Asian stocks rally by around 1% on prospects of Greek austerity plans getting approval
- Gold slightly higher at $1505/oz; Oil $93/bbl
Absolutely nothing happening at all during Asian trade with the major pairings having trading ranges of between 20 and 30 pips but for the most part, failing to move at all. The Greek austerity votes today and tomorrow are keeping players out of the market.
EUR/USD closed in NY around 1.4365 and has lost about 10 pips during the session, primarily on some very mild profit taking in EUR/JPY. The last 4 hours have been spent in a 5 pip range around 1.4350. Ranges: 1.4340/70
USD/JPY opened around 81.10 and fell to session lows at 80.90 around the Tokyo open, once again with EUR/JPY profit taking to blame. Range: 80.91/81.11, EUR/JPY 116.14/53
Cable 1.5980/99, EUR/GBP .8967/82, EUR/CHF 1.1930/62, USD/CHF .8312/30
The AUD and NZD also failed to inspire, jobbing around in 30 pip ranges, also awaiting the Greek decisions.
