- After some big falls in recent days, the Shanghai stockmarket opened -1.5% and has remained close to that level
- Chinese Premier taking steps to curb price rises
- Fed’s Evans and Rosengren raise prospect of further QE
- Australian Q3 wage price index +1.1%
- UK considering offering bilateral loans to Ireland
- Asian central banks again seen buying USD/Asia
- Gold steady at $1336/oz
It has been an exceedingly quiet session in Asia with all of the majors spending two lengthy periods in deal-free zones and only the slight USD sell-off after the Feds comments being of any note.
EUR/USD closed in NY at 1.3475 and a big US investment house had been a notable buyer just below there. The pair spent 3 hours in a 10-pip range, rallied 30 pips on the Fed comments and then spent the next 3 hours in another 10 pip range. Overall range: EUR/USD 1.3469/1.3516, EUR/CHF 1.3430/71
The AUD has underperformed again this session with news out of China regarding possible interest rate rises weighing. Range: .9745/84
USD/JPY has been sidelined again in a 20 pip range though it is grinding higher day by day. Range: 83.27/46
Cable has also been quiet, trailing the EUR moves. Ranges: Cable 1.5864/99, EUR/GBP .8490/.8510
