- Speech from Ben Bernanke is the highlight on the economic calendar:
- EUR crosses made big rally overnight and will be the key to Asian market moves:
- EUR/AUD has made a significant reversal and has little technical resistance until 1.2375:
- EUR/JPY has dumped the bears and is back in the middle of its recent 100/104 range:
- Market positioning is pretty flat apart from EUR shorts (which are obviously being unwound), so there is plenty of scope for some speculative pushes:
- AUD/USD bids from reserve managers are expected at 1.0350:
- USD/JPY stops are reportedly quite heavy above 80.50:
- FOMC minutes show some unexpected resistance to future QE:
- Emerging currencies like ZAR and MXN get hit especially hard overnight and Asian currencies will also need close watching today.
