Lets get EUR, CHF and GBP out of the way … all in very quiet ranges today in Asia. Yen spent the session waiting for the BOJ to conclude its two-day policy board meeting and announce no change. We were not disappointed, the only points of note from the BOJ announcement being that the expressed some concern on export growth slowdown and noted an improvement in business investment … otherwise it was no change. AUD ticked a little higher as we approached the 11.30am local release of NAB business confidence and conditions data … which got a few chatterers excited that perhaps the data was going to be better than expected. Nope …. while confidence was down a little current conditions had a bigger fall. AUD dropped a quarter of a cent,. which got some of the chatterers all excited about a break of last night’s lows leading to further losses … which was a bit weird given the prevalence of bids ahead of 0.9000 (I tried to tell ‘em…). Sure enough, it bounced right back in the following hour and then sat sideways around 25/30. NZD/USD was the (very) quiet achiever again, ticking a little higher. The RBNZ meet on Thursday – a rate hike is as close as you’ll get to a certainty in these markets. CAD lost a tiny amount of ground.
Posted on: Tue, 11 Mar 2014 06:49:21 +0000
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