Subdued FX markets with Chinese Lunar holidays in full swing
City Index February 11, 2013 1:30 PM
<p>With most of Asia celebrating the Lunar holidays and both NYC and London wading through snowy conditions the FX markets aren’t showing too much inspiration […]</p>
With most of Asia celebrating the Lunar holidays and both NYC and London wading through snowy conditions the FX markets aren’t showing too much inspiration as we trade in tight ranges ahead of the upcoming G20 meeting in Moscow with the main focus likely to be whether Japan are dragged into a questions regarding the recent weakening of the JPY.
The beginning of the week is likely to be dominated around Fed speakers and how dovish they remain with other highlights likely to come in the form of the UK inflation report on Wednesday and the retail sales data on Friday along with the BOJ meeting on Wednesday although this is unlikely to show any change in policy with as mention the G20 likely to dominate where we can expect rhetoric on currency valuations.
Supports 1.3320-1.3260-1.3225 | Resistance 1.3460-1.3525-1.3600
Supports 92.35-92.15-92.00 | Resistance 92.85-93.30-94.00
Supports 1.5740-1.5675-1.5650 | Resistance 1.5825-1.5880-1.5835