- Japan April core machinery orders -3.3% MoM
- NZD falls after strong aftershock hits Christchurch
- Regional stocks fall by around 1% on average
- Gold $1532/oz, Oil $99.30/bbl
- Australian markets closed; most European marketrs closed today
EUR/USD saw an early push lower in interbank trade, triggering stops below 1.4300 and trading to 1.4285 before rebounding to its NY closing levels at 1.4330 before the retail market opened. Since then its been fairly quiet inside a 1.4319/58 range. Early short covering out of Tokyo in EUR/JPY drove the EUR to session highs before a sharp fall in the NZD/USD influenced all other pairs.
NZD/USD fell sharply from .8220 to .8135 after reports of a 5.5 magnitude aftershock hitting Christchurch. AUD/USD fell in sympathy as did most of the other majors. Otherwise the antipodean currencies have been quiet amid holiday markets. Ranges: AUD/USD 1.0518/62
USD/JPY rallied on EUR/JPY short-covering and a slightly improved sentiment towards the USD. The fact that US yields bounced late on Friday also helped underpin. Light trailing stops were triggered above 80.50 but corporate sell orders at 80.70 capped. Ranges: USD/JPY 80.24/69, EUR/JPY 115.00/65
Cable traded 1.6214/45, EUR/GBP .8819/41
USD/CHF has bounced quite sharply after EUR/CHF support at 1.2050 held, trading 50 pips higher today from .8414/67