- Japan’s July tertiary index +1.6% MoM
- Reuters Tankan manufacturing sentiment index falls
- RBA sees bright outlook for Australian economy
- Japan’s ruling party calls on BoJ for more easing
- NZ leaves rates unchanged, slightly more dovish statement
- Nikkei falls back after strong open, regional bourses slightly lower
It has been a fairly quiet session after the big moves from yesterday. USD/JPY has slid slowly lower throughout the session as it became clear that the BoJ were unlikely to appear today. Ranges: USD/JPY 85.23/76, EUR/JPY 110.67/111.61
EUR/USD opened above 1.3000 but with the proximity of the 100-day MA encouraging profit taking in EUR/JPY and with heavy sell orders eyed towards 1.3050, the path of least resistance was down. EUR/USD fell to 1.2976 before intraday profit taking emerged. Ranges: EUR/USD 1.2976/1.3020; EUR/CHF 1.3004/59
Cable has moved more or less in line with the EUR, the cross trading in an .8311/28 range and cable itself trading 1.5598/1.5647
The AUD has also been quiet in a .9350/92 range with AUD/JPY profit taking weighing and the positive comments from the RBA providing support.
Markets: Nikkei -0.1%, HK and Seoul -0.5%, Sydney -0.7%. Gold $1270/oz, Oil brent crude $79/bbl.
