- Australian unemployment rate falls to 5.1%, better than the 5.3% expected
- Economy adds on 46,000 new jobs, with 12,000 full-time
- Rate cut talk is likely to be silent for rest of month, at least based on domestic events
- UK consumer confidence improves markedly from 38 in December to 47 in January
- Greek FinMin says Greece has fulfilled all requirements, but he also accuses some EZ members of wanting Greece out
- Singapore Q4 GDP -2.5% QoQ, +3.6% YoY
- China January FDI -0.3% YoY
- Australian stocks -1.5%, Korea -1%, elsewhere -0.5% on average.
- Gold $1725/oz; Oil $101.50/bbl
Another very quiet session in Asia with only some brief volatility in the AUD and EUR to report.
EUR/USD opened in Asia near 1.3055 and drifted slowly lower before taking out the NY lows at 1.3043. The next target was a daily low at 1.3025, but there was no fight there, with bulls saving their ammunition for a suspected barrier at 1.3000. Solid bids were reported between 1.3000/05 and the low at 1.3006 would seem to confirm this. Ranges: 1.3006/68
AUD/USD spent the majority of early trade near 1.0690/00 but it saw a quick 50 pip spike immediately after the strong jobs data. EUR/AUD also got close to recent record lows but the Aussie was unable to maintain this bullish momentum and fell back to opening levels. Ranges: 1.0664/1.0738
USD/JPY drifted lower as risk-off sentiment weighed on the Yen crosses. Ranges: 78.33/52, EUR/JPY 101.97/102.51
Cable 1.5661/97; EUR/CHF 1.2058/71
