- Japan’s October trade balance slightly below expectations
- Australian Q3 Capex +6.2%
- China expects loan growth of 15% next year to be enough to sustain economic growth
- North Korea warns of more retaliatory attacks due to new South Korea ‘provocations’
- UK recovery won’t be knocked off course by spending cuts, says MPC’s Andrew Sentance
- Weber Signals Resolve on Euro
The tone for the day was set early with a continuation of the risk aversion trend. Selling from Tokyo in EUR/JPY and AUD/JPY pushed the pairs to the lows in a market that ‘passed the parcel’ in a thinner market ahead of the US Thanksgiving holiday. For the last few hours trading has been quiet and lacklustre ( something we may have to get used to in the next few weeks).
Noise from North Korea threatening more ‘retaliatory action’ had no efffect on today’s market, and in the absence of such action, we can expect more of the same risk aversion.
Ranges EUR/USD 1.3308/60 EUR/JPY 111.04/60 USD/JPY 83.41/59 CABLE 1.5752/90 CHF 0.9945/72 AUD/USD 0.9763/0.9849 AUD/JPY 81.50/82.27
GOLD USD 1371.20 OIL USD 83.65 ( Jan Light)
