- NZ treasury sees better GDP next year.
- RBA minutes: “Flexibility” added to statement. AUD slips from highs.
- Australian government raises iron ore export forecast.
- Australian Q3 dwelling commencements rise 9.4%.
- Asian stockmarkets quiet ahead of Fed meeting, ASX200 up 0.4, Nikkei flat, Kospi flat.
- Hong Kong property shares slip on the back – China looking to curb property prices – story.
- Fujii says bond issuance must be below 44 trillion yen.
- Gold slightly higher at 1128.
A very quiet day with the only noise coming from the RBA minutes. The RBA added the word “flexiblity” to their statement, in other words, saying that they may pause at one of their next few meeting from hiking rates. This saw the AUD slip from above 9165, back towards 9130.
EURUSD traded in a tight 25 pip range with no real direction seen, with exporter sell orders in EURJPY capping EUR. Traders seem to be waiting for the German and EU Zew numbers tonight before taking the plunge. USDJPY saw a little two way action into the Tokyo fix, with demand slightly higher, keeping it bid for most of the morning.
Japanese importers buying in the afternoon, saw EURJPY sellers at 130.00 taken out for a quick run up above 130.20, with some intraday shorts closing positions once thru that level.
Ranges:
EURUSD 1.4638 – 1.4653
GBPUSD 1.6277 – 1.6315
USDJPY 88.55 – 88.89
EURJPY 129.80 – 130.29
AUDUSD 9129 – 9171
Goodluck,
Sam