- The Australian economy continues to slow as shown by another fall in car sales for last month.
- The gold market saw some light profit taking
- Market awaits the BOJ rate decision.
Few themes arose in a quiet trading session. JPY crosses remain well supported with the market now suspected to be solidly short. Most analysts and traders are watching 120 in EUR/JPY as being the next pivotal level.
Ranges: EUR/USD 1.2528/96, Cable 1.4209/80, USD/JPY 93.51/83, EUR/JPY 117.37/118.00 and AUD/USD .6362/.6443. Some stops were triggered above .6430 in the AUD/USD and dealers are reporting renewed corporate buying interest back towards .6330/50.
