Australian job ads -2.4% MoM
Australian Q1 business inventories +0.9% QoQ; business profits -8.3% before income tax
Australian TD-MI inflation gauge +0.0% MoM
Market leaning towards 25bps rate cut tomorrow by RBA
EZ politicians increase talk of fiscal authority and even fiscal union
FinMin Azumi refuses to comment on the FX market
Regional stockmarkets fall by 2% on average
Gold $1623/oz, Oil $82.20/bbl
BOJ getting steamrolled by bullish Yen sentiment: Bloomberg
It's been a fairly quiet session with none of the majors moving too far away from their NY closing levels. EUR/USD spent the early interbank hours trading 1.2400/25 and then tried to move higher in early trade on the back of the EZ political leader statements re fiscal union etc. This momentum soon stalled once sharemarkets opened 2% lower, sending the JPY crosses lower. Ranges: 1.2384/1.2442; EUR/JPY 96.74/97.22
AUD/USD moved around with shifts in risk sentiment, AUD/JPY flows and speculation regarding the RBA tomorrow. We will end the session about 30 pips below the NY closing level from Friday. Ranges: .9623/.9707
USD/JPY 78.02/27; Cable 1.5339/74
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