Not much to be learned from uninteresting Asian trading session
Probably safe to say that I’m none the wiser after a pretty uninteresting session so far. Like I said this morning, it was always likely to be a session dominated by large orders in pairs like EUR/USD (barrier protection and Sovereign sellers) and AUD/USD (hedge fund sellers). The Yen crosses rose a bit and then returned to their opening levels, so we’re not getting much information from there either.
Other developments today included the announcement of an Australian general election on September 14th and rumours that the FOMC will join in the race to the bottom and try and talk the USD lower. Neither had all that much effect on a listless market.
Risk events tonight include EZ consumer confidence and US GDP data but all eyes will certainly be on the FOMC.