- G20 in Paris this weekend will focus on inflation and global imbalances
- No surprises in BOJ minutes
- Japanese government likely to upgrade economic assessment
- UK business growth plan not enough: law makers
- Chinese property prices still on the rise
- Rumours circulating of another RRR adjustment in China this weekend
- USD/CNY fixed at new record low, 6.5781
- Gold $1384/oz
- Nikkei flat, Shanghai -1%, HK +1%, Korea +1.75%
Another snore-fest in Asia with very little movement to report. EUR/USD closed in NY at 1.3605 and talk of heavy stops above 1.3640 encouraged dealers to try taking the pair higher. Long standing sell orders around 1.3625 proved strong enough to dampen bullish momentum and the intraday longs were forced to sell up when the pair moved back below 1.3600. Ranges: 1.3592/1.3628
Cable fared even worse, with virtually no interest evident in a tight range despite some rather bearish reports in UK press. Ranges: Cable 1.6163/84, EUR/GBP .8409/23
USD/JPY traded 83.25/41 and even the AUD/USD was quiet in a 20 pip range, 1.0110/31.
