- New Zealand food prices rise 0.1% from month ago .
- New Zealand consumer confidence fell 1.9% to index 111.9 from 114.1 .
- Japan Government downgrades view of economy -MNI
- Japan FinMin Azumi states his usual ” will take decisive action should it become necessary in the forex market “. FOMC decision reflects concern over US economy .
- China surveillance ships enter disputed waters -rtrs
- China’s Xi cited in state media as health rumors fly -rtrs
- Draghi sees positive results from bond plan -rtrs
The dollar continues it downward spiral after taking a bit of a breather early in the session on profit taking and position squaring . Stops were touched off in the EUR/USD at 1.3005 and again at 1.3015 , not much in the way of resistance till 1.3050. Good buying interest at the 1.2980 level kept the upward momentum intact and now with Super Mario pleased with himself , higher levels are there for the taking . EUR/USD currently on its highs of 1.3026/28 .
USD/JPY narrow 20 pip range 77.46/66 was pretty much a non-event .(how unusual) . With the action caused by the FOMC it woke up our good friend Azumi to get out his tape recorder and warn the market that he will take decisive action in the FX market if necessary . Support 77.00/10 , resistance 77.90/00 about says it all.
AUD/USD continued its upward path towards the 1.0600 level as U.S. names stepped up buying carry . Good buying interest down at at 1.0520/30 early in the session kept it firm the rest of the evening , reaching a current high of 1.0585/90 .
NZD/USD was carried along with it as stops were touched above 0.8325 , leading to a high of 0.8352.
Good luck and have a good weekend .
