risk aversion game play

Looks like risk aversion is the game play for today.

Dollar, yen and the suissy seem to be the safe-haven currencies for the day.

Concerns of a possible Irish downgrade and uncertainty seems to still be the topic on the Eurofront. The PIGS are back into the main picture with possible risk in the other countries, that sum up the PIGS.

Today Japan is on a holiday, so looks like yen will be in a tight range today during tokyo session, and possibly aussie as well. I’d still today look into playing Euro and sterling. Sell Euro on rallies, and also sterling.

I would though be careful during the U.S session as we have some big data coming out later today.

Data Today:

German GDP – 7am GMT

German GFK consumer confidence survey – 7am GMT

German PMI manufacturing – 8am GMT

Eurozone PMI manufacturing – 9am GMT

US Q3 GDP – 1.30pm GMT

US existing home sales – 3pm GMT

US FOMC meeting minutes – 7pm GMT