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As the US market experienced some bad news in the financial sector, the dow jones took a 180 point dive down to 11.479. The blame was with the possibility of Fannie Mae and Freddie Mac, two secondary market financiers in the US mortgage market will need to be bailed out by the US Government.
Crude Oil is hovering around $113.10 around 0120 GMT.
MAJORS:
EURUSD 1.4681
USDJPY 110.02
GBPUSD 1.8626
USDCHF 1.0981
The US session did ok on the forex news front otherwise. The National Associations of Homebuilders reported on cue with their call for the House Index, being at 16. Canada has also performed well with the Foreign Securities Purchases, as the indicator shown 7.3 Billion over the 5.5 Billion estimate.
Tonight proves to be a big hitter for Japan as we are expecting later on, the Bank of Japan releasing their interest rate decision, I would hang around and check any Yen cross tonight as there will be some activity.
Australia will have some minutes released on the latest Reserve Bank Meeting, availble at 0230 GMT. New zealand has already released their Product Price Indexes and the Input showed 5.6% up and the Output showed 3.5%.
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