Asian open: Metals still hold the key as USD stays soft; busy day of data ahead
Not a lot of movement overnight in the FX market but its interesting to see that USD/CAD was one of the bigger movers, indicating that the market is squarely focused on events in the commodity markets. This could be due to a lack of any other focus or it could be that major events are brewing in the precious metals and commodities spaces.
AUD/USD failed to break new ground and only a clean break above .9350 will have the bears getting worried.
It will be a busy day for the economic calendar. NZ and Japanese trade data, Australian CPI and Chinese PMI should all add to market volatility.