- Russian C.Bank will be ready to invest in Canadian dollars in several weeks time – Ulyukayev
- Bank of Korea bought $300-400 mln to curb won’s strength – Dealers
- Euro zone August final services PMI revised up to 55.9 from flash estimate 55.6
- UK August services PMI 51.3, sharply down from 53.1 in July. Far below median forecast of 52.9 and lowest read since April 2009
- Euro zone July retail sales +0.1% m/m, +1.1% y/y
- ECB’s Nowotny: ECB exit will start with liquidity, followed by collateral quality, then interest rates
Not much going on this morning, as the market hunkers down awaiting the US jobs report this afternoon.
EUR/USD up marginally at 1.2840 from early 1.2820 having been as high as 1.2856. Stopped just short of buy stops seen through 1.2860. The minor rally came despite reports of BIS selling in 1.2820/25 area. Mutterings of an Asian sovereign buying, but nothing concrete.
USD/JPY up at 84.45 from early 84.30, with US investment bank notable buyer this morning. EUR/JPY up at 108.40 from early 108.10 having been as high as 108.61. Talk of stops through 108.80 and larger through 109.00.
Cable down fractionally at 1.5405 from early 1.5415, the release of really poor services PMI data (see above) knocking the pairing back. Talk of sell orders clustered up at 1.5460/75.
AUD/USD at .9095, marginally firmer from early .9080. Bank of Korea is said to have sold above .9100 helping limit gains. Talk buy orders clustered down at .9040/50. Said to be very large stops gathered just below there.
On topside, Swiss name offers seen at .9130. Speculation they’re option-related protecting .9150 level. This is given credence by reports of more sell orders just ahead of .9150.
