Tuesday, February 22, 2011

Libya tensions causing some movement this morning


Things were pretty quiet last night. This morning however we’ve seen quite a bit of movement!

USDJPY had a sudden 30 pips spike as asia session started which also coincided with Reuters headlines of Libyan warplanes bombing targets inside the city. Dozens of people have been reported killed in Tripoli. Fitch has also downgraded Libya’s long term ratings to BBB from BBB+.

Euro slipped lower this morning as well due to the tensions occurring in the middle east.
The Aussie too was under pressure on higher risk aversion, falling European equity and Aussie crosses selling.

 Data today
German GFK Consumer confidence survey – 7am GMT
UK public finances – 9.30am GMT
US Consumer confidence – 3pm GMT

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