[/caption] FX markets were choppy in the Asian session but little changed, as traders await a slew of economic data and events.The NZD/USD was range-bound between 0.710-35 range for the early part of the session, before risk was sold off as concerns over Chinese banks and worries over European Commission assessment of Greece's deficit-cutting plan spread. Markets become temporarily risk averse, as news that Fitch Rating warned that banks in China faced the greatest "bubble risk" of any Asian country. "The agency views 'bubble risk' as greatest for Chinese banks given their 32 percent loan growth in 2009; this looks likely to be followed by a further 20 percent in 2010," Fitch said in a statement. The USDJPY had climbed to 90.58, but fell swiftly to 90.30. A day after the RBA shock the market by holding rates at 3.75%, Australian trade deficit widened to A$2.25bn vs. -A$2.5bn exp in December from A$1.7bn in November, illustrating a strong recovery in both imports and exports. We still believe the RBA will hike in March and AUD should be well supported near term. The highlight of the day should be the EC assessment of Greece's deficit-cutting plan, and then European Union Economy and Monetary Affairs Commissioner Joaquin Almunia will hold a press conference. We doubt that EC officials will want to fan any fe [...] Forex trading - live day trading course and currency trade room.
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