The Night Ahead

• Quiet trade in Asia for currencies; oil weaker on the day
• Euro-zone Consumer Confidence set for release; expected at -5 and unchanged
• U.S. Existing Home Sales also slated; 6.2mln expected

Thoughts
Quietest session in Asia so far this year for currencies today, with Japan out of holidays and a lack of clear cues from offshore and weekend trade combining for a very quiet session. Gold and oil prices are slightly weaker on the day, while currencies hold recent ranges.
We are expecting a little more (but not much) movement in European trade tonight, with a full compliment at their desks expected to look at the news tapes and yawn.
Euro-zone consumer confidence could have an impact on Euro trading if it comes in much different from expectations.
U.S. Existing Home Sales are rarely a market moving event and this will be even more exacerbated in tonight’s session.
Look to continue to accumulate Dollars on dips.