The EURUSD is moving lower. The move corresponded with a report on the news wire that Fitch downgraded 12 Russian banks. The thought is the EZ is more exposed. This may have caused the sharp sell off.
The pair is testing the 200 hour moving average at the 1.2841 level (currently). A break lower muddies the water once again for the pair.
Japanses Machine Orders for September came in as follows:
Machine Orders - Survey:5.0% Actual:5.5%
Machine Orders (YoY) - Survey:-5.3% Actual:-4.2%
Although a slightly positive report, the Yen has had no reaction after gapping lower on the open.
The following areSeptember Australian data releases:
Home Loans - Survey:-2.8% Actual:-2.7%
Investment Lending - Survey:-3.0% Actual:-1.1%
The following are the highlights of the RBA's Quarterly Statement:
