EUR/USD consolidates ahead of ECB, USD shrugs off weak ISM data

Currency Summaries

• USD/JPY traded up from 122.82 to 123.07 in Asia
• EUR/JPY traded 130.52-73. GBP/JPY was between 185.09-44.
• AUD/JPY rose to 90.17 post-good Australian GDP, eased lower later to 89.77, on profit taking.
• NZD/JPY quiet, 81.92-82.02.

• EUR/USD opened in Asia at 1.0633, short-covering o/n post-weak weak US ISM.
• The pair backed off in Asia, 1.0637 to 1.0614 in extremely quiet trading.
• Consolidation likely into key ECB meeting tomorrow.
• Market very short but interest still in EUR-funded carry trades.

• GBP/USD heavy alongside EUR/USD, 1.5081 to 1.5064 in Asia.
• 1.4994 7-month low Monday, next major support 1.4567 April low.
• EUR/GBP steady, 0.7046-51 in Asia.

• USD/CHF steady in very quiet Asia, range 1.0254-70.
• EUR/CHF soggy, modest ease from 1.0916 to 1.0896 in Asia.

• AUD/USD opens Asia at 0.7321, to 0.7345 post-GDP, off later to 0.7305.
• Profit-taking behind push down from session high.

• NZD/USD NY close 0.6676, NZD best performer amongst majors, 0.6690 high.
• Saw some long liquidation in Asia, 0.6681 to 0.6654.
• Brief spike to high from 0.6660 area post-Aussie GDP quickly erased.
• Support ahead of 0.6600, good resistance ahead of 0.6700.

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Source:: EUR/USD consolidates ahead of ECB, USD shrugs off weak ISM data

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