- BOJ September Tankan +8
- HSBC September China PMI 52.9
- Fed’s Lockhart says QE2 not a foregone conclusion
- Regional central banks continue to buy USD/Asia
- China lifts rare earth export ban to Japan
- NZ August trade balance better than expected as imports drop
- Regional bourses rise by just under 1%
- Gold steady close to record highs at $1310
Despite quite a few important economic releases there has been very little movement in Asia. USD/JPY tried to push higher early as EUR/JPY broke above 114.00 after the good Tankan survey inspired a higher Nikkei and some risk-on trading. Momentum has been missing however and the market was happy to consolidate the big moves from overnight. Ranges: USD/JPY 83.80/84.07, EUR/JPY 113.81/114.18
EUR/USD has traded 10 pips either side of its NY closing level unable to trouble option barriers at 1.3600 or Sovereign bids waiting on dips. Range: 1.3567/92
Cable has had a mild bid tone for most of the session amid various rumours of big buyers to emanate from no-one knows where. Ranges: Cable 1.5800/22, EUR/GBP .8582/97.
The AUD has also been quiet in a 20 pip range, .9659/81.
Markets: Nikkei +0.6%, Kospi +0.8%, HK +1.2%, Shanghai +0.5%.
