China Mar MNI Business Sentiment Indicator falls to 58.39 vs 60.98
Mar 22, 2013
Forex Flash: EUR/USD somewhat over-extended now - TDS
While above 1.2880, last at 1.2909 EUR/USD, and threatening to build a reversal pattern if above 1.2980, Chief FX Strategist at TD Securities Shaun Osborne believes the “EUR/USD has been pulled lower by the focus on Cyprus this week but relative central bank balance sheet positions suggests 1.35 is fairer value for EUR/USD currently,” he notes, adding: “We look for EUR/USD to rebound if a Cyprus deal is reached,” Shaun concludes.
AUD/JPY is last at 99.03 near session lows, off yesterday's lows at 98.67, with both AUD/USD and USD/JPY also near session lows, little changed for last 10 hours, and the upside limited so far. Nikkei index is down -1.32% for the day, following yesterday's worst Japan trade deficit on record.