Market Overview

ForexLive Asia Wrap Up:

ForexLive Asia Wrap Up:

Japan retail sales rose 0.4% y/y, fell 3.6% SA m/m, large retailers' sales fell 1.0%.-MNI
Lloyds October business barometer rose to 17 from 10 in September.
U.K Hometrack housing survey fell 0.1% m/m and 0.4% y/y.
Japan FinMin Jojima says budget funds will dry up by end of November, hopes BOJ takes bold monetary policy action.
Draghi backs eurozone super-commissioner plan.-BBC
Finland's Katainen very satisfied with election result. 
France's leaders reject firms' plea for competitiveness shock.-MNI
Hurricane Sandy takes the spotlight, closes the NYSE. 

EUR/USD started early with a run at stops between 1.2960/70 touching a high at 1.2972. After the stops were taken out (on Draghi comments) during the extremely thin opening the EUR/USD traded back down to the 1.2940/50 level most of the session.  As the dollar gained some strength across the board aided by good selling of EUR/USD and EUR/JPY out of Tokyo.  Some buying interest down at 1.2915/20 slowed the decline for the time being with the next line of support down around the 1.2880 level.

USD/JPY remained on the sidelines with bids ahead of 79.50 and offers above at 79.90/00. Trading range should be tight with the BOJ policy decision due out later, as expectations of a 10 trillion yen increase in QE will set the tone for the rest of the year.

AUD/USD was a non-event trading to a low of 1.0344 and high 1.0372 within good support at 1.0300/20 and resistance up at 1.0380/00.

One last parting shot of Sandy. Good luck today.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Markets


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