The EUR/USD opened the Asian session with a gap lower at 1.3580 and was sold down to 1.3546 on reports of EU members such as Belgium pushing back the German/French proposal on stabilizing the euro zone debt crisis. USD/JPY did little in Asia whilst the JPY crosses saw some bounce after moves lower Friday. USD/JPY traded a very tight 82.16-30 range. EUR/JPY rose from 111.46 to 112.01 with EUR/USD stops above 1.3610 helping the cross higher. Stops are seen above 112.10 here, 112.06 the high Friday. GBP/JPY saw gains from 132.27 to 132.69. Stops are seen here above 133.00-10 resistance. Cable began the new week in Asia at 1.6092, and has been confined to a 1.6090/38 range so far. The pair opened lower than the 1.6115 NY close on a softer EUR/USD following weekend reports in the press of EU infighting, but as is often the case in Asia, both cable and EUR/USD have more than filled in the opening gap.
As for today we expect CAD Building Permits m/m 13:30 GMT with a forecast 2.9%.
As for Equities in US , showing Dow gained by 30 points up, at 12,092 by 0.25%, Nasdaq 2,769 by 0.56% also S&P 500 closing to 1,311 by 0.29%. We saw FTSE 100 higher by 14 points at 5.997 with 0.23%. In Asia, Nikkei gained by +49 points to 10,592 by +0.46%, Hang Seng gained fell by -118 points to 23.791 by -0.49% and Shanghai increased by 9 points to 2,931 by 0.30%.
Sources: Various