The day ahead in the FX market, Tuesday January 8th
- Australian trade balance 00:30 GMT, -AUD2.3bln expected:
- UK BRC retail sales 00:00 GMT, last +0.4% YoY:
- Majors back in range-mode with heavy orders dominating overnight trade:
- EUR/USD bids at 1.3020 proved to be very strong and heavy offers now reported 1.3160/70:
- EUR/JPY will be focussing on recent highs at 116.00:
- USD/JPY remains bullish but barriers reported at regular intervals 88.50, 88.75 and 89.00:
- AUD/USD also dominated by orders with Corporates buying overnight 1.0465 and sell orders reported 1.0540/50.