AUD opens slightly higher in quiet interbank trade

Not a lot happening in early interbank trade although the AUD is slightly higher, most likely driven by minor Chinese economic data released over the weekend.

• USD/JPY has drifted back below 103.00 and I’m still looking to sell any rallies towards 104.00 in anticipation of some heavy option protection. EconMin comments that the Yen correction is complete are weighing on this pair for now. 
• EUR/AUD has failed to close the week significantly above 1.3200 resistance so I’m considering booking profits; will wait a few hours though.
• USD/CHF still looks very bullish so no need to panic into profit there.
• I’m still running a small cable long from Friday and am happy to sit and see how this develops.

There is nothing much of interest on the economic calendar and with holidays in some parts of Europe later today, I think we may have a very quiet start to the week.