28 Oct 2013
Session Recap: Quiet Asia, UK weather to disrupt London volumes
FXstreet.com (Barcelona) - The Asian session developed in a very quiet fashion, consolidation ranges extended, and an early spike in all Yen crosses was the only FX-related event wort highlighting.
There were no indicators in the calendar that could change the slow-pace fate in Asia, with no much hope of that changing ahead of London, as FX participants will probably face unusually low levels of liquidity, as the UK prepares for severe weather conditions. The weather is expected to disrupt transport services in the British capital.
According to UK resident Mike Paterson from Forexlive: "Reports are that no commuter trains will run until after 08.00 Monday while rail companies check that the lines are safe. This will definitely affect London market liquidity even if some banks and institutions are putting key personnel in hotels for the evening."
The EUR/USD keeps the 1.38 so far, the GBP/USD has been static around 1.6180, USD/JPY maintains most of the gains made in interbank trading and trades around 97.60, while the AUD/USD broke but found it too hard to sustain above 0.96.
Main headlines in Asia
USD/JPY spikes higher in early trade
IMM traders trim USD longs
Highlights from the latest IMM futures positioning - Scotia Bank
London liquidity to thin out Monday as UK braces for severe storms
ECB's Coeure: Europe challenges are growth and to clean-up banks
There were no indicators in the calendar that could change the slow-pace fate in Asia, with no much hope of that changing ahead of London, as FX participants will probably face unusually low levels of liquidity, as the UK prepares for severe weather conditions. The weather is expected to disrupt transport services in the British capital.
According to UK resident Mike Paterson from Forexlive: "Reports are that no commuter trains will run until after 08.00 Monday while rail companies check that the lines are safe. This will definitely affect London market liquidity even if some banks and institutions are putting key personnel in hotels for the evening."
The EUR/USD keeps the 1.38 so far, the GBP/USD has been static around 1.6180, USD/JPY maintains most of the gains made in interbank trading and trades around 97.60, while the AUD/USD broke but found it too hard to sustain above 0.96.
Main headlines in Asia
USD/JPY spikes higher in early trade
IMM traders trim USD longs
Highlights from the latest IMM futures positioning - Scotia Bank
London liquidity to thin out Monday as UK braces for severe storms
ECB's Coeure: Europe challenges are growth and to clean-up banks