Markets Silent With G-20 in the Wings..

With a good deal of strong data ahead in London as well as the latest G-20 meeting hosted by Paris this weekend, the Asian session was mind numbingly quiet to end the week. For the most part risk remained elevated near late New York levels but traded sideways with no real data or news to budge the markets either way. The EUR/USD saw early highs near 1.3625 followed by lows near 1.3590, but the pair exited the session right where it began it, near 1.3605. The USD/JPY pair showed even less enthusiasm, trading in a 10 pip range from 83.29 to 83.39 on the day.

Many traders sat on the sidelines awaiting UK retail sales data due up at 9:30GMT, a vital component to the equation on whether or not the Bank of England will look to raise rates in the near future. The GBP/USD remained buoyed just off of highs near 1.6770 for the day. Elsewhere the crosses remained a tad softer as is usually the case in Asia on Friday’s and the dollar saw continued weakness against the Canadian dollar and Swiss Franc. Gold, XAU/USD saw a modest pop to $1385.50 to register a fresh one month high.



As mentioned this weekend will see Paris host the latest round of G 20 meetings where the focus will primarily be the continued global recovery in the face of sprouting inflation. The group of twenty will also have to address the recent surge in commodity prices, most notably food products, which have actually been a supplemental cause of unrest in many developing nations as well as the Middle East. Please keep in mind that the US will enjoy a three day weekend due to the Presidents day holiday on Monday. Enjoy the weekend…

Источник: FOREX.com

18.02.2011