Forex pairs moved in-line with global equity trade, in general, and dropped in value against the Usd as global markets moved to the short side of risk.
Asian trade moved the Nikkei down through 9800, which easily allowed German Dax trade to open lower and then just keep going to test support at 6150, those moves lead to S/P futures trade consolidating just above 1075.
Aud/Usd and Usd/Jpy lead the movers overnight, while the European pairs held the ranges set in the previous session. The main price action points on the major pairs are 1.2250 on Eur/Usd, 1.4950 on Gbp/Usd, 0.8650 on Aud/Usd, 1.0450 on Usd/Cad, 89.50 on Usd/Jpy, and 1.1050 on Usd/Chf.
Ahead of the G20 meeting at the weekend, and ahead of macro-economic sound-bites regarding global fiscal challenges, the risk and demand markets look as though they will be consolidating the moves to test support, rather than breaking higher and testing resistance.
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