ForexLive Asia Wrap Up

Junckner: Euro zone leaders, ECB to act on euro . "No time to lose", calls "chatter on the withdrawal of Greece " not helpful . EMU readying for EFSF/ECB intervention, then no decisions on intervention taken yet . Schaeuble denies EFSF to start buying Spanish bonds.-MNI South Korea August manufacturing BSI index falls to 69 vs revised 81 in July , citing uncertainty of the European debt crisis . Moody's "ECB cannot resolve European debt crisis.  Says area of disagreement remain between ECB governing council members .  N.Z. June building permits rise 5.7 % vs 7.3 % forecast. Japan June industrial production fell 0.1% vs expectations of a 1.5% rise. MNI U.K. Lloyds July business barometer at -8 vs. -12 in June . U.K. House prices fall 0.1 %m/m and 0.5% y/y,  may extend extend their decline as a deepening recession curbs demand for homes. Aside from very early trading (with euro up near 1.2340) the market was extremely quiet with consolidation being the main highlight of the session. Euro finding some support at the 1.2280 level with key support at 1.2240,(stops below) . Resistance again up at the 1.2395/1.2400 level with stops above. Usd/Jpy narrow 20 point trading range with the occasional signs of Yen strength. Offers up around the 78.60 level followed by stops above 78.80. After touching high near the 1.0500 level (hearing barrier there ) Aussie spent most of the session consolidating around the 1.0460/70 level . Good Luck