- Strong Intel numbers help Asian tech stocks higher.
- Importer-demand less than expected into the Tokyo fix.
- Australian PM following the China/RIO spy saga personally.
- Australian leading economics index -3.9% in May.
- NewZealanders await signing of an agreement allowing them to bring back home their Pension funds.
- NZ Finance Minister says he would prefer a lower NZDUSD given the curent account deficit.
- Gold up slightly at 925.60
- China June FX reserves rise $42 bio.
Unfortunately there isnt much to right home about, with Asia putting in a very quiet one. Most traders had expected Yen crosses to move higher on the back of supposedly good demand on the Tokyo fix but that didnt eventuate which led to a slight sell off. EURJPY was sold 30 pips before recovering to morning highs. No major flows or orders were reported today as traders were happy to sit on the sidelines.
The AUDUSD spent the day under the resistance level 7950. Some sellers were noted after the Tokyo fix but that only took it back into the 20’s to trade within a rivetting 20 pip range for the remainder of the day.
Ranges:
EURUSD 1.3961 – 1.3988
GBPUSD 1.6313 – 1.6337
USDJPY 93.37 – 93.66
EURJPY 130.43 – 130.95
AUDUSD 7922- 7948
Goodluck,
Sam