ForexLive Asian market wrap: No surprise in RBA minutes

Latest RBA minutes show that easing growth and inflation led to 50bps rate cut last month Chinese FDI fell by 2.4% YoY, over the first four month period of 2012 EZ says no discussion on Greek exit from EUR, but bookies have stopped taking bets Asian central banks sell USD to halt its rise with Indonesian and Indian central banks selling at 9285 and 54.15 respectively EUR/USD orders: Still plenty of barriers to slow down bearish momentum Regional stockmarkets fall by over 1%: Nikkei -1.2%, Kospi -1.5%, Shanghai and Sydney -0.9%, HK -0.1% Gold $1555/oz; Oil $94.30/bblAnother surprisingly quiet session in Asia with overnight volatility in the EUR failing to transfer over to the local session. Central bank intervention in USD/IDR and USD/INR did provide local interest but again the majors remained unmoved.AUD/USD did have a volatile 5 minute period immediately after the RBA minutes were released when AUD/USD spiked up 15 pips then down 30 as the market took in all the headlines. The message from the RBA was pretty much as expected so AUD/USD settled back where it had been beforehand. The still-reasonable Chinese FDI data then helped lift the AUD/USD towards session highs but overall its been a session where nothing has happened. .9940/78EUR/USD has been even less enterprising, trading a 25 pip range in line with EUR/JPY flows. Barriers at 1.2800 encouraged dip buyers but with sentiment still soggy, rally sellers remain persistent. All eyes will now be on the ongoing Greek political negotiations as they seek to form a government. Ranges: EUR/USD 1.2812/37, EUR/JPY 102.25/58USD/JPY also moved with EUR/JPY and AUD/JPY flows in a quiet 79.78/94 range.Cable 1.6084/1.6104, EUR/CHF 1.2006/13