ForexLive Asia Wrap Up

New Zealand August building permits rose 1.9%. China Jan-July Petrochemical industry profits fall 32.6% y/y. S.Korea industrial production rose 0.3% y/y, fell 0.7% m/m. S.Korea current account surplus at $2.357 bln in August. S.Korea August service sector output fell 0.3% vs July. U.K. Gfk consumer confidence rises to - 28 from -29. Japan manufacturing PMI rises to 48 from 47.7. Japan unemployment rate fell to 4.2%.-MNI Japan job-to applicant ratio unchanged at 0.83 from July. Japan household spending rose 2.2% m/m and rose 1.8% y/y.-MNI Japan core CPI fell 0.7% in Tokyo and fell 0.4% nationally.-MNI Japan industrial production fell 1.3% m/m and 4.3% y/y.-MNI Japan retail sales rose 1.8% y/y, rose 1.5% m/m, and large retailers' sales fell 0.9%.-MNI Fitch cuts China and India 2012 GDP, 7.8% from 8% and 6% from 6.5% respectively. Australia private sector credit rose 0.2% m/m and 4.1% y/y. China MNI business sentiment indicator rose to 51.35 in September (flash was 50.31). U.N. Iran and Netanyahu doing a little sabre rattling, just what we need for a nice relaxing weekend. Chinese FM Yang telling U.N. Japan stole disputed islands from China. Here we go again. Azumi telling his usual tale of woe stating that a  strong yen is being a burden on exports and Japan's economy. Just a reminder the China HSBC  PMI will be released tomorrow night at 10:30 EDT or 02:30 GMT. EUR/USD continued on it's "I don't have to worry about anything" path to a high of 1.2940 ish.  Scattered stops above today's highs helped the euro along it's merry way. No fresh EU news (guess that's a good thing) with the exception of possible leaks of the Spanish banks stress test results.   Resistance up at 1.2960/70 for now. Support coming in below at 1.2870/80. USD/JPY played "let's consolidate around the 77.55/60 level" for most of the night. Bids at 77.40/50 with stops below and offers above starting at 77.70 keeping the tight range intact for now. Feel any downward pressure may bring on the usual intervention fears, one last chance for Azumi to put his money where his mouth is. AUD/USD continues its "don't mess with me,mate" attitude breaking through good resistance at 1.0460/70 with the target now being above 1.0500.  Support  down below at 1.0410/20 for now. Have a good weekend.