Wednesday's FX Analysis: FOMC And Kuroda Fail To Spark Some Action
Littlefish FX | Apr 10, 2013 05:06PM ET
Another very dull day for the markets.
Even the FOMC were unable to spark some life into the markets by moving the meeting minutes release to 9am ET. The minutes highlighted the potential for reducing Asset Purchases by the Summer, but as highlighted in yesterdays commentary, take this with a pinch of salt given the timing of the meeting.
BoJ governor Kuroda managed to create five minutes of fun during the day, by saying that the BoJ had done all that is required/possible at the moment.
The only good resulting from yet another quiet day is the current pattern of 3 quiet days and 2 breakout days; given the 3 previous quiet days we could be up for more action Thursday and Friday.
Aussie Unemployment numbers are due to be issued overnight.
EUR/USD
The euro chopped around today after rejecting the 1.3100 level. We are now looking for a move lower from these levels
Personal Bias: Bearish
Support: 1.2930
Resistance: 1.3110
Strategy: Look for clear short signals
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