- Japan’s December unemployment 4.9%, core CPI -0.4%, with Household Spending down 3.3%
- Japan December retail sales -2.0% YoY
- UK FinMin: Recovery likely to be slow – Chancellor George Osborne in Davos
- UK consumer confidence at 22-month low
- Timeframe shortening for possible US ratings change: Moody’s. Perhaps the USA’s turn isn’t far away…
- Australian Government says floods will boost CPI inflation by 0.25% next quarter
- S&P move holds silver lining for Kan, from the Financial Times
After the Japan downgrade there was either going to be movement or a quiet session. Ahead of tonight’s US GDP a quiet session ensued with a couple of flows and then a tediously slow session. Tokyo sold EUR/JPY down some 50 pips as it seemed that a downgrade was expected to some extent; and Sterling suffered a little with comments from George Osborne and a 22-month low reported in UK Consumer Confidence.
Ranges for the session:
EUR/USD 1.3697-1.3744 ; EUR/JPY 113.32/91 ; USD/JPY 82.58/93 ; Cable 1.5882 -1.5938 ; EUR/GBP 0.8613/38 ; USD/CHF 0.9438/64 EUR/CHF 1.2937/91 ; AUD/USD 0.9885-0.9926 AUD/JPY 81.75-82.27
US GDP awaits…..