- Germany’s Finance Minister comments. MNI
- BOJ’s Shirakawa expects Japan to return to moderate growth. External demand quite weak, domestic demand strong. Europe debt crisis biggest risk to economy and may lead to Yen strengthening.
- China MNI July falsh business sentiment survey : Overall conditions 49.63 down 3.58 from June . (indicates slowing)
- Australia 2Q export prices rise 1%, Import prices rise 2.4% from previous quarter.
- PBOC sets Yuan at 6.3112 vs 6.3126.
- Greeks set for more pain on wages - WSJ
Market fairly quiet most of the session with the U.S. dollar showing some life to it on scattered profit taking ahead of the weekend . Eur started the session at 1.2280 and drifted lower to 1.2250 before trading back to current levels . Some saw a spike from 1.2255 to 1.2280 then back to 1.2265 in a few minutes , sorry to say I missed it , no news or reasons given to the spike up . Still mixed sellers above 1.2280 and again at 1.2300 . Usd/Jpy started the session 78.58 and slowly weakened seeing a high of 78.80 (first resistance level) . Downside 78.50 still holds the line with barriers at 78.25 and 78.00. Aussie $ started the session at the highs of 1.0428 and did not have a bounce in it . Well just a small one at the 1.0400 level. Gbp was another one that started on the highs at 1.5725 and could not get the usual bounce back trading near the lows here at 1.5704.
German PPI at 6:00 gmt , also Euro finance chiefs holding a conference call on Spain’s bailout.
Have a good day and better weekend .
