• Today’s main event will be the Chinese trade data which should be released around 01:30 GMT:
  • The AUD hasn’t fallen despite successive poor economic releases so danger would seem to be to the topside from a positive Chinese release:
  • The NZ trade data will also be released this morning and there are still stops being reported topside in NZD/USD:
  • USD/JPY has coming roaring back after a brief blip lower and the focus remains on the topside, with optionality reported at 88.50 and above:
  • The EUR has been choppy ahead of tonight’s ECB meeting but we may finally get a directional move in the days thereafter.