- New Zealand net and long term visitors fell 660. Suffers migration losses in July on outflows to Australia .
- N.Z. July credit card spending rises 0.1% from year ago , falls 1.5 % from month ago.
- N.Z. 2-year inflation expectations fall to 2.3 %.
- Germany backs Draghi bond plan against Bundesbank.
- Japan’s LDP plans censure motion against PM Noda.
- RBA August monetary policy minutes , no mention of intervening , concern over global growth , with China economy “stabilizing at a more sustainable pace “.
The summer time blues continued tonight with subdued trading , although the AUD/USD did provide us with some excitement after the RBA minutes of the August meeting . AUD/USD was holding just above the 1.0450 level till after the release (nothing earth shattering ) but was enough to trigger some weak stops through 1.0460, sending the pair to it’s session highs 1.0480/85. Market seems to be searching for the stops scattered through 1.0500. Would expect further consolidation around these levels till Thursday’s China Flash PMI release .
EUR/USD : Trading was stuck around 1.2350 most of the session , the high being 1.2358 and a low 1.2342, just wonderfull. All eyes are now focused on the various meetings/talks amongst Juncker-Samaras , Merkel-Samaras, Hollande-Samaras, Merkel-Hollande, what no Juncker-Merkel-Hollande ?? Anyway you get the picture , zero interest rates for Greece ??
USD/JPY : Trading on the lows of the session at 79.32, with the high being 79.50 . Can you say very narrow trading range ??
Good Luck Today .
