- Reuters Tankan sees manufacturing mood improving in Japan
- BOC Carney: Interest rates unlikely to stay low
- Players continue to buy downside protection for EUR/USD
- USD/CNY fixed at 6.4803
- Regional equity markets fall by around 1.5% on average
- Gold $1527/oz, Oil $99.25/bbl
Fairly quiet session in Asia after a big EUR sell-off materialised overnight on further disquiet within the EU.
EUR/USD opened around 1.4165, which was right at important trendline and 100-day MA technical support. With support levels also close by in EUR/GBP at .8745 and EUR/JPY at 114.55 in the form of sizeable bidding interest, Asia took advantage of the situation to buy the EUR/USD. Gains have been relatively modest within a 1.4156/1.4201 range as the market is wary of hanging onto large long EUR exposure.
AUD/USD has been quiet also, gradually inching higher as risk aversion dwindled and AUD/NZD buying supported. Ranges: 1.0551/91
USD/JPY has had a very quiet 22 pip range, with corporate selling interest starting at 81.10 dissuading from any pushes higher. Ranges: 80.80/81.02, 114.58/95
Cable has had a bullish tone throughout the session after opening right on trendline support at 1.6175, trading in a 1.6173/1.6227 range and EUR/GBP seeing .8744/66
USD/CHF .8512/43 (sell orders at .8550 with stops directly above); EUR/CHF 1.2077/1.2125
