Australia RBA Commodity Index SDR (YoY) -7.2% in Feb
Mar 1, 2013
Forex: EUR/USD continues sequestered by sellers
The European-shared currency, as highlighted yesterday, was finally the victim of a corrective appreciation disguised in bear's clothing. After a promising upside day on Wednesday, risk appetite was nowhere to be found in the last US session, leading to solid bids in the US Dollar, as US equities suffered a major turnaround into negative territory.
For a second consecutive day, Cable has taken a break during the session in Asia-Pacific, trapped inside a tiny 20 pip-range for the last six hours between 1.5160 and 1.5180, last at 1.5180, just about 10 pips above its previous opening in the region yesterday. The pair thus reduces its average daily volatility, reaching an 8-month peak between last Friday and Tuesday around 135 pips per day on average in their previous 14 trading days.