Asian market likely to stay very quiet

Risk trades have edged marginally higher this morning but there’s nothing really going on in the FX market, with interbank dealers saying that interest is very low at current levels. Unless some headlines emerge out of China to shake things up, we can expect these quiet conditions to remain with us until Europe opens.

One interesting titbit from the interbank market is that Asian central banks have reportedly raised their bids in the Gold market from $1525/50 to $1625/50.