- Japan’s jobless rate rises slightly to 4.6%
- Japan’s household spending rises for 3rd consecutive month
- Retail sales rise for 5th consecutive month
- BoE Broadbent: Right amount of stimulus in place at present
- US holiday ensures another illiquid early session
- Regional stockmarkets fall early but rebound to be mostly positive, except Nikkei which was -0.3%
- Gold $1572/oz; Oil $91/bbl
Risk aversion was obvious in early trade, with the AUD/USD falling 50 pips quite quickly in thin trading conditions. The Australian sharemarket fell by 0.75% and the mood in the market was particularly risk averse as asset managers and real mony accounts sold. The recovery started once Tokyo opened and the AUD/USD has slowly clawed its way back to opening levels. Ranges: .9798/.9858
EUR/USD also fell alongside the Aussie and again threatened the psychologically important 1.2500 level. Buyers were plentiful near the lows and like the AUD/USD, there’s been a slow and gradual recovery. Ranges: 1.2508/47
Cable also closed its Monday morning gap, trading to a low at 1.5652 before recovering. Ranges: 1.5652/85
USD/JPY has again only had a 25 pip range even though turnover was reportedly quite large at times. Ranges: 79.39/63
