The big plunge in the Chinese trade balance has not affected the FX market with the majors still trading near their NY closing levels; EUR/USD is at 1.3110, USD/JPY is at 82.50 and AUD/USD is trading at 1.0565.
The talk in the market is that Sovereign players are buying EUR/USD near 1.3100 and AUD/USD near 1.0500 and this demand is holding up the market despite bearish news and sentiment.
Not much of note on the economic calendar so we will rely on flows and comments for volatility.
Good luck today.
