The EUR/USD opened in Asia around 1.4176 and initially touched a new high at 1.4181 on news that AT&T has signed an agreement with Deutsche Telekom to buy T-Mobile USA valued at $39bln, with $25bln of the deal in cash. The pairing drifted off to a session low at 1.4157, as the USD strengthened a little against the European currencies in response to safe haven flows around the rise in oil. USD/JPY opened in Sydney at 80.81(after having closed in NY at 80.60) and has traded a 80.70-81.02 range so far. It has been a low illiquid session due to the Japanese holiday but traders have little doubt that the BOJ is at his desk today and keeping a tight rein on prices. Cable began the new week in Asia at 1.6255, the pair touched early highs at 1.6261 then drifted lower as EUR/USD came off early highs touching a low so far at 1.6202 and falling just short of the key 1.6200 support.
14:00 GMT time today in the Euro Zone ECB President Trichet speaks, during his speech volatility is often experienced, in the same hours across the globe US is to release official news on Existing home sales forecasted from 5.36 to 5.15M, it's a leading indicator of economic health. Existing homes make up the majority of total sales and therefore tend to have more impact than New Home Sales.
As for Equities in US, we see Dow gained by 84 point 11,859 by 0.71%, Nasdaq to 2,644 0.29%, S&P 500 gained up to 1,279 by 1.43%. In Europe we saw FTSE 100 Positive 5.718 by 22 points. In Asia, Nikkei was up at 9.207 by 2.72%, Hang Seng at 22,603 by 303 points up and Shanghai trading positive at 3.046 by 0.08%.
Sources: Various