- UK economy: Rightmove house prices -1.1% MoM
- Swedish general election likely to result in minority government
- Greek bank stress tests postponed for 1 month
- UK economy: CBI economist says BoE should resort to QE if economy needs it
- China coal imports +12.7% YoY
- RBA Governor Stevens says the Australian economy should stay strong and inflation will not fall much further
- Gold consolidates at record levels above $1280/oz
- Regional bourses slightly lower
It has been a quiet session with USD/JPY trading in a 9 pip range with Tokyo’s financial markets closed.
AUD/USD did at least see a 70 pip range with most of the activity still related to the big option binary at .9475. Today we saw some profit taking on shorts taken Friday night. Even a Bloomberg article suggesting that the AUD was over 25% overvalued did not have any effect. Ranges: AUD/USD .9364/.9441
EUR/USD has risen slightly from its NY close on Friday with some mild profit taking after the market went short on Friday night in fear of more European Sovereign debt revelations over the weekend. Ranges: EUR/USD 1.3035/84, EUR/CHF 1.3166/1.3208
Cable has not been affected by the housing data or CBI reports. Ranges: Cable 1.5638/85, EUR/GBP .8333/47.
