Global Markets:
- Asian stock markets: Nikkei up 1.15 %, Shanghai Composite fell 0.65 %, Hang Seng rose 0.30 %, ASX 200 gained 0.75 %
- Commodities: Gold at $1256 (-0.10 %), Silver at $15.88 (-0.65 %), WTI Oil at $40.25 (-0.25 %), Brent Oil at $42.70 (-0.25 %)
- Rates: US 10 year yield at 1.74, UK 10 year yield at 1.40, German 10 year yield at 0.11
News & Data:
- Australia NAB Business Conditions (Mar): 12 (prev 8)
- Australia NAB Business Confidence (Mar): 6 (prev 3)
- Australia ANZ Roy Morgan Weekly Consumer Confidence Index (W/E 10 Apr): 112.0 (prev 113.4)
- New Zealand REINZ House Sales (YoY) Mar: 8.2% (prev 5.7%)
- PBoC Fixes Yuan At 6.4616 (prev 6.4649)
- BoJ Gov Kuroda: Won't Hesitate To Add Stimulus If Needed – BBG
- Japan leads Asia stocks higher, oil buoyant as dollar sags – RTRS
- Obama, Fed's Yellen discussed economic risks in White House meeting – RTRS
- Oil prices dip but hold above $40 ahead of producer meeting – RTRS
Markets Update:
The US Dollar extended losses overnight, but managed to recover slightly against the Japanese Yen. USD/JPY bounced off 107.80 support in the late NY session and rose to a high of 108.30 in Asia, supported by the rally in the Nikkei 225. Resistance now lies at 108.40 and 109.10.
The Australian Dollar rallied overnight after stronger than expected business confidence data. AUD/USD rose from 0.7590 to 0.7645 in Asia. With 0.7640 resistance now broken, the next obstacle lies at 0.7685. NZD/USD followed AUD higher. The pair started the trading day around 0.6850 and managed to rise to a high of 0.6895 earlier.
EUR/USD and GBP/USD were quiet overnight as they consolidated in a 1.1400-15 and 1.4225-45 range. The UK will release its CPI numbers later today, which should increase volatility in the GBP pairs.
Upcoming Events:
- 07:00 BST – German CPI
- 08:30 BST – Swedish CPI
- 09:30 BST – UK CPI
- 09:30 BST – UK PPI
- 09:30 BST – UK House Price Index
- 13:55 BST – US Redbook
- 14:00 BST – FOMC Member Harker speaks
- 20:00 BST – FOMC Member Williams speaks
- 21:00 BST – FOMC Member Lacker speaks
