Global Markets:
- Asian stock markets: Nikkei up 2.50 %, Shanghai Composite gained 0.05 %, Hang Seng rose 0.80 %, ASX 200 rallied 1.05 %
- Commodities: Gold at $1233 (-1.20 %), Silver at $16.08 (-1.50 %), WTI Oil at $41.25 (-1.30 %), Brent Oil at $43.60 (-1.35 %)
- Rates: US 10 year yield at 1.76, UK 10 year yield at 1.44, German 10 year yield at 0.13
News & Data:
- Australia Employment Change (Mar): 26.1K (exp 17.0K prev rev -0.7K)
- Australia Unemployment Rate (Mar): 5.7% (exp 5.9% prev 5.8%)
- Australia Participation Rate (Mar): 64.9% (exp 65.0% prev 64.9%)
- Australia Consumer Inflation Expectations (Apr): 3.6% (prev 3.4%)
- New Zealand BusinessNZ Manufacturing PMI (Mar): 54.7 (prev rev 55.9)
- UK RICS House Price Balance (Mar): 42% (exp 50% prev 50%)
- Singapore GDP (YoY) Q1, A: 1.8% (exp 1.7% prev 1.8%)
- Singapore GDP SAAR (QoQ) Q1, A: 0.0% (exp 0.0% prev 6.2%)
- Singapore MAS Removes Appreciation Stance On Currency
- PBoC Fixes Yuan At 6.4891 (prev 6.4591)
- BoJ Gov Kuroda: BoJ Will Achieve 2% Price Target — BBG
- Kuroda: Will Add Stimulus If Needed
- Kuroda: Underlying Trend In Inflation Is Steadily Improving
- Kuroda: BoJ Still Halfway To Achieving Price Target
- Kuroda: Cutting Rates Further Depends On Economy & Prices — BBG
- Kuroda: Mon Pol Not Targeting FX Rates
- ECB’s Constancio: Full Effect Of ECB Mon Pol Still To Materialise
- Constancio: Clear Limits To Negative Deposit Rate
- To Continue Doing 'Whatever Is Necessary', Europe Cannot Rely Solely On Mon Pol
- Constancio: Overall Effects Of ECB Negative Rates Have Been Positive
Markets Update:
In Asia, the US Dollar recovered and local stock markets rallied. USD/JPY extended its recovery to 109.55, supported by continued gains in the Nikkei. Offers can be expected ahead of 110, while bids are now noted at 109.10 and 108.75.
The improvement in risk appetite hurt the Euro and EUR/USD fell to 1.1270 yesterday. Overnight, it extended losses to 1.1254. Support lies at 1.1225 and 1.1150, while offers stand at 1.13 and 1.1325. Meanwhile, GBP/USD is under renewed pressure after it failed at 1.4350 resistance. The pair is currently posting fresh lows and approaching 1.41 support.
AUD/USD was volatile overnight. The pair first rallied from 0.7630 to 0.7660 after the jobs numbers were released, but then quickly reversed gains and fell to a fresh session low of 0.7620. From there, it was able to recover again and reach 0.7650.
Upcoming Events:
- 08:15 BST – Swiss PPI
- 09:00 BST – Italian CPI
- 10:00 BST – Euro Zone CPI
- 12:00 BST – Bank of England Interest Rate Decision
- 13:30 BST – US CPI
- 13:30 BST – US Initial Jobless Claims
- 15:00 BST – FOMC Member Lockhart speaks
- 15:00 BST – FOMC Member Powell speaks
