EUR/USD opened in Asia at $1.3458 on a firm footing ahead of today’s ECB LTRO, despite poor US durable goods data and Eurogroup’s postponement of a firewall decision yesterday. The DJIA closed above 13,000 for the first time since 2008, as equities rallied with precious metals, despite falls in crude oil. The Asian session has been calm ahead of the LTRO and Dutch/Finnish govt votes on the Greek debt package, with the single currency rising to $1.3485 before running into real money supply. The move seen on early EUR/JPY demand and firming Asian bourses. GBP pushed up from $1.5897 through the 200 day MA to $1.5938, with EUR/GBP continuing yesterday’s decline to stg0.8458 from stg0.8470. USD/JPY slipped to Y80.38 from Y80.69 with EUR/JPY steady but firm in a Y108.26-73 range. AUD/USD pushed higher on the back of firmer equities and base metals, despite poor housing data, and retail sales which came in on expectations. AUD took out stops through $1.0790 after opening at $1.0765, breaking up to $1.0824. Gold and silver pushed up again towards yesterday’s $1790.20/$37.22 highs.
EasyForexNews Research Team