- Deutsche Bank chief warns that small European banks face collapse
- UK retail sales growth slowing
- German FinMin: Austerity only cure for Euro Zone
- Australian Q2 current account deficit slightly better than expected
- Regional stockmarkets fall by up to 2% early but recoup half of those losses
- Gold steady around $1903/oz
EUR/USD has been dominated by technical support and barrier protection ahead of 1.4050. Despite this, sentiment remains bearish and there hasn’t been much of a bounce. The comments from the Deutsche chief added to bearish sentiment. Ranges: 1.4058/98
AUD/USD has been reasonably active with positional adjustments ahead of the RBA. It closed in NY near 1.0550 and hasn’t been able to reclaim that level since then. Ranges: 1.0492/1.0551
USD/JPY has again been comatosed in a 20 pip range, 76.76/95.
Cable 1.6079/1.6114; USD/CHF .7839/72
