Not really much to add tonight, havent had much time to follow the market today. Aussie employment and Chinese House prices came in hot overnight helping push the yen lower during late Asia and early Europe. However, U.S Retail Sales surprised pretty badly to the downside switching everything back to risk off and we seen the yen crosses give up the nights gains and more. Equities really didnt sell off much tho, and finished the session in the green.
ECB and Trichet was a bit of an non-event as expected. A few warnings for Greece. All a bit ho-hum. EURUSD is still stuck in a tight range around 1,4500 and seems directionless for now. X has wrote a little more on the EURO here
Intel posted a good earnings report, after market, spiking the Yen lower again. We will have to wait and see if that will help keep equities buoyed overnight and tomorrow. Inflation and consumer sentiment numbers also come early in the NY session, maybe we will get some positive news flow that the market seems to be waiting for, following todays snoozefest.
Personally, i still like the GBPYEN long and will just keep buying it on dips. Simple. It is a Friday before a holiday on Monday though, so be careful out there.
All the best.
C.
