- Chinese consumer prices rose by 1.2% MoM in February, which is +4.9% YoY
- PBOC: Restates its commitment to reform and a convertible Yuan
- Austrian FinMin: Portugal should decide on financial aid soon
- Japanese PM implicated in illegal funding row
- Demonstrators injured in Saudi Arabia ahead of today’s ‘day of rage’
- Regional stockmarkets fall by over 1% on average
- Gold $1317/oz, Oil $102.75/bbl
Another pitifully quiet session in Asia with most traders avoiding the market ahead of some potentially volatile demonstrations planned for Saudi Arabia.
The AUD/USD saw a little bit of movement as corporate buyers entered the market near parity and the pair moved slowly higher throughout the session. Interbank dealers were happy to sell rallies in anticipation of some further risk aversion but they may still be sitting a little short. Ranges: .9998/1.0037
EUR/USD drifted higher alongside the AUD/USD but interest was very small. EUR/JPY traded less than a 20 pip range which says everything. EUR/USD range 1.3787/1.3831
USD/JPY traded 82.75/83.00 and USD/CHF .9298/.9324
Cable saw a tight 1.6052/77 range and EUR/GBP .8586/.8608
