- Australian Coalition clouds it’s chances in the election race with a A$ 7-9bn financing ‘black-hole’
- The German Bundesbank trying to oust controversial board member
- Australian July Trade Balance A$ 1.888bn seasonally adjusted – not up to expectation but minor impact on the AUD
- Economy Avoids Recession Relapse as Data Can’t Get Much Worse
Much stronger ISM data from the US gave the Asian market a start on the positive side with risk-positive trading following a firm US equity market; the Asian bourses duly followed suit and early on the market looked to trade bouyantly. The only news of the session was the Australian Trade data which came in under expectation and a minor negative impact on the AUD. Prior to this news the risk trades had started to come back on profit taking and have stayed in the lower range of the session in a lacklustre market. There was no new news nor talk from Tokyo – a change from recent days ! and no flows of significance to report…..
Ranges EUR/USD 1.2785/1.2814 EUR/JPY 107.51/1.8.26 USD/JPY 84.07/57 CABLE 1.5429/63 USD/CHF 1.0150/87
AUD/USD 0.9054/0.9117 AUD/JPY 76.13/98
GOLD $1246.60 OIL $73.65 (Light Crude October)
