Quarter end flows started impacting the markets yesterday. Today marks the half year end for JPN, end of month and Q3 for others. Asian equities bounced in line with yesterday’s NY action…relief rally or reversal is still unknown. For now I define it a lack of bearish momentum, in a downwards trend.
Jpy pairs not that inspired by overnight equity action…and leading into EU nothing is really appetizing. Month end can also be quite volatile so be cautious out there.
Today we have various important data prints: German Unemployment, UK Gdp, Eurozone CPI, US ADP & Chicago PMI, Cad GDP and finally Yellen’s speech tonight. Busy day ahead although the only charts I am attracted to today are below.
Charts for today: