Eurogroup to focus on Greek disbursement
What happened overnight
– BoJ left its assessment and asset purchase plan unchanged
– Norway GDP grew 0.7%qoq in Q3, revised lower to 0.8%qoq in Q2
– India considers raising foreign holding limits for sub-category debts
– Portugal passed the 6th EU/IMF program adjustment review
Markets shrugged off Moody’s rating action against France overnight, as EURUSD rapidly regained the 40 pips it had lost overnight and is now sitting around yesterday’s highs at 1.2819. The news of France’s downgrade was in fact offset by the largely expected announcement that Portugal had passed its 6th Troika review, clearing the way for its next aid disbursement. USDJPY interrupted its multi day surge following the unchanged outcome of the BOJ’s meeting and is unchanged on the day at 81.42. AUDUSD is a touch softer on the day at 1.0397 in the aftermath of the generally dovish tone of the RBA minutes.
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