- Nothing on the data front
- Well, actually, a few more cars got flogged in Europe as April car sales came in up 1.8% and the first gain for over a year
- France’s finance minister Pierre Moscovici says economic growth could return in the 2nd half of 2013
- ECB’s Coeure sees that financial conditions improved on recent months, but that further ECB actions are limited by independence concerns
- BOE’s Weale says rates to stay low until 2016 according to rate curve and that the MPC must not be “inflation nutters”
- Rumours of an Abenomic tapebomb on cutting corporate taxes turned out to be a damp squib and all we got was a promise to attempt to triple exports to ¥30tn by 2020 and plans to restore capital spending to ¥70tn per year
- ECB’s Asmussen beat up his fellow German countrymen by announcing that Germany must reform of become the “sick man of Europe”
Once again a lazy start to affairs in Europe. We got another little dose of early USD/JPY buying as traders came to their desks, the third time in a row it’s happened.
We then settled down with GBP/USD staying quiet.
EUR/USD has been a scalpers dream today with plenty of movement between 1.2850 and 1.2890. A short term bottom may be parking itself around 1.2840/50 as we’ve held above there for two days and are looking at a third.
AUD/USD saw further losses from Asia with Hong Kong sellers doing the damage this time. Any thoughts of barrier options at 0.9750 were quickly quashed as we slipped through to a low of 0.9727.
EUR/AUD reached the highest since December 2011 reaching 1.3225 just shy of the aforementioned high but has since fallen back to the 1.3180 level
I’ll be clocking off shortly and I’ll be back on my regular 9-5 slot on Monday now that Mike has finished prancing around stage in tights and a doily. He’s refused to put a picture up so I’ve had to search his local press for one.
Thank you for having me once again and I hope you all have a cracking weekend.
