- U.K. GfK July consumer confidence at -29 . (as expected)- MNI.
- Japan July manufacturing PMI 47.9 vs. 49.9 in June .
- Japan June jobless rate 4.3% vs expected 4.4% .-MNI.
- Japan June job to applicant ratio 0.82 as expected.-MNI.
- Japan June household spending y/y at +1.6% vs. expected +2.9%, m/m at -1.3% vs. expected -0.6%.-MNI.
- Japan June labor cash earnings fell 0.6% y/y.-MNI.
- Japan FM Azumi speaks again, his usual , ready to act, will monitor, Yen doesn’t reflect economy, and that other countries are starting to share Japan’s view on currencies.
- NBNZ July business confidence 15.1% vs prior 12.6%.
- NBNZ July activity outlook 24.0% vs. prior 20.8%.
- N.Z June M3 money supply rises 5.7% from a year ago .
- Australia June building approvals m/m fell 2.5 % vs forecast -15%.
- Australia June private sector credit rose 0.3% m/m vs forecast +0.4%.
The euro spent most of the session consolidating around the 1.2260 level . Tired shorts decided to run for cover, breaking through the 1.2270 level on its way to to session highs here at 1.2289. Euro still has a bidish tone but 1.2300 resistance might stall the mini rally.
Usd/Yen 13 point range with 78.15 being the focal point . Market saw some late covering in the Eur/Yen now trading back above the 96.00 level. Aud/Yen also recovered (after breaking 82.00 on the downside) to trade back to near the highs of the session at 82.35.
Aussie $ consolidated around 1.0500 , but finally got a delayed boost from better than expected building numbers , then breaking through resistance at 1.0525/30 before stalling at 1.0537. The next level on the topside should be 1.0550 on the way up to 1.0600 .
Good Luck and Good Night
