The day ahead in the FX market, Tuesday December 4th
- RBA rate decision later this afternoon, with the market pricing in a 90% chance of a 25bps rate cut:
- Yen positioning is other major factor in the market, with shorts certain to get increasingly nervous as the December 16th election beckons:
- EUR/USD now consolidating above 1.3000 and the short-term trend remains bullish:
- No talk of any large orders in the market:
- EUR/JPY has started to quieten down, and 106.50/108.00 look like the important levels to watch there.