Quiet session in Asia apart from few stop-loss runs in Yen crosses
The market had a go at some stops in USD/JPY below 99.20 and in EUR/JPY below 131.00 but apart from that it’s been pretty quiet. Much of the focus was on the Gold market and talk of stops above $1340 but the precious metal market stayed very quiet.
AUD/USD failed to challenge recent highs at .9300 and is starting to retrace as intraday longs give up. Most of the major bank research that I’ve been reading today remains very bearish on AUD/USD and perhaps that’s having an impact at the moment.
There isn’t much of note on the European economic calendar and we may be in for another quiet session.