Global Markets:
- Asian stock markets: Nikkei up 0.10 %, Shanghai Composite lost 2.50 %, Hang Seng declined 1.00 %, ASX 200 gained 0.35 %
- Commodities: Gold at $1253 (-0.05 %), Silver at $17.15 (+1.05 %), WTI Oil at $41.55 (-2.20 %), Brent Crude $43.15 (-2.05 %)
- Rates: US 10 year yield at 1.77, UK 10 year yield at 1.50, German 10 year yield at 0.17
News & Data:
- Japan Trade Balance (Mar): JPY 755.0Bln (exp JPY 834.6Bln prev rev 242.2Bln)
- Japan Exports (YoY) Mar: -6.8% (exp -7.0% prev -4.0%)
- Japan Imports (YoY) Mar: -14.9% (exp -16.6% prev -14.2%)
- Australia Westpac Leading Index (MoM) Mar: -0.12% (prev rev -0.23%)
- Australia Skilled Vacancies (MoM) Mar: -1.2% (prev -0.9%)
- PBoC Fixes Yuan At 6.4579 (prev 6.4700
- Bank of Japan Governor Kuroda: Markets Remain Unstable Due To Continued Risk Aversion — RTRS
- Kuroda: Could Change Size And Composition Of Asset Purchases If Need To Ease Policy — RTRS
- Kuroda: Easing Isn’t A Promise Of Weak Currency & Stock Gains — BBG
- Kuroda: Can’t Say Now Whether Further Easing May Be Taken Or Not, Won’t Hesitate If Required
- Kuroda: Don’t Think There’s Limitation On Expansion Of Stimulus
- Kuroda: Don't See Limit Of Bond Buying Being Reached For 'Years'
Markets Update:
The US Dollar regained some strength in the Asian session. AUD/USD declined to 0.7777 after trading as high as 0.7825 in yesterday's late NY session. Support is now seen in the 0.7730/40 area. NZD/USD followed it lower, declining from 0.7050 to 0.7007, with support now noted at 0.6970.
USD/CAD bounced off 1.2635 and recovered slightly after a 360 pips decline in just two days. The pair traded up to 1.2720 in Asia and offers are resting at the former support level at 1.2740.
USD/JPY came under pressure overnight, as stock markets are mostly lower, with the Shanghai Composite falling more than 2 %. USD/JPY declined from 109.50 to 108.90 and bids are reported at 108.80 and 108.20. To the topside, strong resistance can be expected ahead of 110.
GBP/USD retraced slightly, from 1.4420 to 1.4370. Today at 09:30 local time, the UK will release its latest employment numbers and the unemployment rate is expected to remain unchanged at 5.1 %, while claimant count changes are expected to arrive at -11.3k.
Upcoming Events:
- 07:00 BST – German PPI
- 09:30 BST – UK Unemployment Rate
- 09:30 BST – UK Claimant Count Change
- 09:30 BST – UK Average Earnings
- 13:30 BST – Canadian Wholesale Sales
- 15:00 BST – US Existing Home Sales
- 15:30 BST – US Crude Oil Inventories
