- Japan’s CSPI -1.1% YoY
- Fed’s Hoenig warns again about possible QE consequences
- Australian business confidence rises strongly to 9 from 3 in Q2
- Japanese EconMin: Intervention okay if moves volatile and one-sided
- China’s commerce ministry says trade surplus will be smaller due to increased imports
- Singapore bid for ASX in some doubt
- Regional stockmarkets -0.2% on average, Gold slightly higher at $1341/oz
There was only one move of note in Asia today and that happened in early trade when the EUR/USD fell swiftly from 1.3960 to 1.3910 but that move was quickly reversed and the market has spent the last 5 hours trading around 1.3960. Comments from Hoenig of the Kansas Fed were pretty much ignored. Ranges: EUR/USD 1.3908/72, EUR/CHF 1.3545/72
USD/JPY has had a tight 22 pip range between 80.67/89 with the market unable to find momentum ansd also unaffected by more verbal intervention from the FinMin and EconMin.
The AUD has also been relatively quiet with no major flows to report. The news that Singapore’s bid for the ASX might be in jeopardy has weighed mildly but that was counter-balanced by positive business confidence data. Range: .9888/.9922
Cable has traded 1.5692/1.5747 and EUR/GBP .8862/78.
