MORNING BRIEFING: the Japanese yen sharply lower following big AUD/JPY buying.

[RTFX-Trading]

MORNING BRIEFING: the Japanese yen sharply lower following big AUD/JPY buying.

What's new:
Noyer: growth should resume in 2010 in France.
England: unanimous vote of the status quo in July.
Euro area: new industry orders decline in May.
France: rebound in consumer spending in June
Japan: Yamaguchi (BoJ) said unnecessary a new monetary easing.

Today:
08:45 France: business climate july, expected 77, last 75.
10:30 England: retail sales M/M june , expected 0.50%, last -0.60%.
14:30 U.S.: weekly jobless claims, expected 550'000, last 525'000.
14:30 U.S.: housing sales june, expected 4.82Mln, last 4.77Mln.

Rates in Asia and Indices:
EURUSD: 1.4249 - 1.4199.
USDCHF: 1.0674 - 1.0644.
GBPUSD: 1.6502 - 1.6433.
EURJPY: 134.30 - 132.84.
USDJPY: 94.32 - 93.53.
DowJones: 8'881 - 0.39%.
NASDAQ: +0.53% 1'926.
S & P 500: 954 -0.05%.
Nikkei: 9'851 +1.32%.
GOLD: $ 953.00
Oil: $ 65.61.

Comments:

Everything is quiet, the major currency pairs still within narrow ranges. The latest results of U.S. companies are considered satisfactory, causing the market to remain on the defensive, waiting for new clues to take new positions.

This morning, the Japanese yen is sharply lower at 94.21 against the U.S. dollar, 134.15 against the euro and 155.40 against the pound sterling. This sharp decline in the yen is due to stop loss buyers executed last night in Asia on the Australian dollar against the yen (AUDJPY), which is highest in three weeks. There is more stop loss buyers placed above 77.50.

Have a nice day and happy trading.

Nicolas Longchamp

RTFX Ltd
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