- New Zealand 2nd Qtr PPI Inputs rose 0.6%, Outputs rose 0.3% , better than expect number.
- Fed’s Kochelakota says he would not have chosen to forecast low rates through late 2014 , would have chosen earlier date.
- Japan sees FY 13 GDP growth at real +1.7%, nominal at 1.9%-MNI
- Japan econmin Furukawa says GDP forecasts takes into account expected increase in spending ahead of planned sales tax hike.-rtrs
Not much to be said about the market behavior tonight . Narrow trading ranges with the USD firming across the board (even if it’s only a few pips here and there)
EUR/USD saw a high of of 1.2360 but could not gather any steam to test the offers above at 1.2375/80. Slowing drifting here now to the lows of the session at 1.2344. Not sure much longer Merkels remarks will work to stabilize the EUR/USD.
USD/JPY trading near the highs of 79.40 now but looks to running out of gas to make a stab at 79.50 . Some EUR/JPY selling around 98.10 sent the pair to a low of 79.24 , before finding minor support .
AUD/USD consolidates again but fails to make any headroom against the sellers at 1.0525. Drifted lower most of the session breaking through the 1.0500 handle , now trading on the lows at 1.0490/95 .
Good Luck and have a Good Weekend .
