- Greece’s outlook revised to negative by S&P.- bbg
- Bernanke defends zero rate policy.-MNI
- Japan June current a/c total surplus y433.3b (forecast Y415.5b)-MNI
- Japan July 1st 20- day exports -2.4%, trade deficit Y580.0 bln.-MNI
- Japan July bank lending +1.0%/June +0.8%.-MNI
- Australia June value of investment housing finance +4.9%
- Australia June owner-occupied finance +1.3% (forecast +2%)
Euro : Spent most of the session drifting lower from the 1.2400 level . It eventually found support at 1.2375/80 level and has now rebounded back to 1.2395.
Usd/Jpy : Also drifted lower from an opening level of 78.60 and consolidated around 78.50. Market awaits the results of the BOJ’s policy meeting tomorrow for further signs of easing.
Aud : Had a softer tone to it today (after failing twice at 1.0600) as the market looked to lighten up ahead of China numbers on Thursday . Found some good support around the 1.0525/30 level after going through previous support at 1.0550.
Good Luck today
