Yep, a six-degrees of Kevin Bacon day in the FX markets here in Asia today as prices flatlined ahead of the NFP figures in the US tonight. There was a little activity in the AUD and in the Yen.
Today’s data/announcements/comments were sparse:
- AIG (Aust. Industry Group) ‘Performance of Construction index’ (a construction sector PMI) registered 37.0 for Nov. (after 35.8 in October … continued weak performance)
- Japan Nov. Official Reserve Assets at $1270.9B (vs. $1274.2B prior month)
- Australian Oct. Trade Balance came in at -A$2.088B (vs -A$2.2B expected, Capital Good Imports up strongly)
- Japan EconMinister Maehara: Govmt expects BOJ to end deflation, correct Yen gain
- The AUD had an active, if tightly-rangebound morning, with last night’s NY lows holding (1.0470) and 1.0485 providing the topside. Talk now is of 1.0520 barrier & good bids at 1.0450.
- USD/JPY attracted hedge-fund and Japanese-name bids in its morning tick higher to 82.57, testing towards yesterday’s highs (82.62). After the fix it had little left in it to the topside, drifitng back to site just under 82.50 unilt early Europe.
- EUR/USD had a 1.2956/73 range after the post-ECB activity in Europe/NY overnight.
