Recap of overnight movers and shakers - Societe Generale

By FXstreet.com | July 01, 2014 AAA

FXStreet (Guatemala) - Kit Juckes, Global Head of Currency Strategy at Societe Generale noted the move and shakers.



Key Quotes



"Japan's Tankan came in close to expectations for large companies in both manufacturing and non-manufacturing, but the out-performance of large relative to small companies continues. Still, with the Nikkei higher today, a href="http://www.fxstreet.com/technical-studies/currencies/usdjpy/">USD/JPY has resisted the temptation to exit its miniature range and it's worth persisting with a long CAD/JPY trade as an expression of the risk-friendly mood."



"China's official manufacturing PMI was in line too with expectations at 51, the best level of the year so far as the PBOC smoothes the economic adjustment. Finally, in the Asian time zone, the RBA left rates on hold as expected, and again referring to the AUD as being at a high level historically. That triggered a little spike by AUD/USD towards the best levels of the year, and a break above 0.9463 could see it, like EUR and GBP yesterday, squeeze higher."



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