- RBA minutes considers monetary policy to be well placed
- NZ PPI inputs and outputs rise more than expected
- Planned BA strikes in UK set to be cancelled
- Reuters Tankan of Japanese manufacturing sentiment at highest level in over 2 years
- Japanese March tertiary index -3.0% MoM
The focus was mainly on the AUD today with the release of the May meeting minutes. Sentiment for the Aussie has soured somewhat in recent weeks and the market was trading heavily before the minutes which showed that the RBA is getting close to being satisfied with where its monetary policy is at. Range: .8709/78.
The EUR/USD opened near its session highs at 1.2400 but talk of Sovereign selling interest at this level dissuaded intraday bulls and encouraged the bears to push lower. Some moderate EUR/JPY selling flows helped also to weigh on the EUR and it’s been a gradual slide throughout the day in line with slightly disappointing equity markets. Range: 1.2315/1.2400.
EUR/GBP enjoyed a quiet session which meant that the cable moved more or less in line with the EUR. Range: 1.4417/91 and .8541/62.
USD/JPY has traded quietly in a 30 pip range. Ranges: 92.34/62 and EUR/JPY 113.75/114.82
Markets: Nikkei +0.5%, HK +0.1%, Sydney -0.2%, Kospi -0.6%. Gold -0.2% at $1225/oz.
