Forex News FX markets likely in tight range as traders look for new cues, though USD likely to maintain its weaker bias after EUR/USD moved above 1.59 overnight; pair last at 1.5927 vs 1.5898 late NY; USD/JPY at 106.41 vs 106.72, EUR/JPY at 169.47 vs 169.67. AUD/JPY may try for new 9-month highs today, pair last 103.97. Stocks have mildly negative cue from Wall Street after DJIA eases 0.3% with financials losing ground despite better-than-expected results from Bank of America. Apple down 10.9% after hours; though fiscal 3Q results beat expectations, market disappointed with conservative outlook.
American Express down 11.5% after hours after 2Q results come in below Street's view. Nasdaq ends down 0.1%. On data front, Japan all industry activity index is due at 2350 GMT, supermarket sales at 0500 GMT; Taiwan jobless rate at 0800 GMT. In UK, Treasury Committee MPs question BoE's King on banking reform, in U.S., ICSC chain store sales are due, Redbook retail sales, Richmond Fed manufacturing index, ABC/Washington Post consumer confidence index, Treasury Secretary Paulson speaks in NY; Philadelphia Fed's Plosser speaks. Wachovia, Washington Mutual, Yahoo! report earnings.
American Express down 11.5% after hours after 2Q results come in below Street's view. Nasdaq ends down 0.1%. On data front, Japan all industry activity index is due at 2350 GMT, supermarket sales at 0500 GMT; Taiwan jobless rate at 0800 GMT. In UK, Treasury Committee MPs question BoE's King on banking reform, in U.S., ICSC chain store sales are due, Redbook retail sales, Richmond Fed manufacturing index, ABC/Washington Post consumer confidence index, Treasury Secretary Paulson speaks in NY; Philadelphia Fed's Plosser speaks. Wachovia, Washington Mutual, Yahoo! report earnings.
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