- RBA Stevens sees no problem with Australian banks raising rates independently of the RBA
- RBA’s Lowe expects business investment to rise by 10% this year and next
- Japan’s CSPI -o.2% YoY
- Moody’s: Japan has not reached point where negative developments warrant downgrade
- UK private sector wages show modest increase
- Former BOE member Andrew Sentance expects weak growth to be the normal for next 5 years
- Kevin Rudd confirms that he will challenge for the Australian PM job on Monday
- Regional stocks +0.25% on average
- Gold $1780/oz; Oil $108.50/bbl
The AUD has again been the main mover, although these movements have been very small. AUD/USD closed in NY near 1.0720, posted a low early in the session and then rallied on the various comments mentioned above from RBA members. EUR/AUD selling towards 1.2500 also helped Aussie sentiment. Ranges: 1.0709/55
EUR/USD traded in a very quiet range between 1.0763/79 and the Asian market showed no interest whatsoever ahead of a G20 weekend.
USD/JPY opened below 80.00 but talk of Sovereign buying interest ‘somewhere’ on the 79 handle did help bullish momentum. Barriers at 80.50 are expected to be tough to breach. Ranges: 79.89/80.32
Cable 1.5736/53; EUR/CHF 1.2046/59
