Global Markets:
- Asian stock markets: Nikkei down 3.60 %, Shanghai Composite fell 0.30 %, Hang Seng declined 1.50 %, ASX 200 gained 0.45 %
- Commodities: Gold at $1277 (+0.90 %), Silver at $17.80 (+1.45 %), WTI Oil at $46.05 (+0.05 %), Brent Oil at $47.80 (+0.05 %)
- Rates: US 10 year yield at 1.82, UK 10 year yield at 1.61, German 10 year yield at 0.25
News & Data:
- Australia PPI (QoQ) Q1: -0.2% (prev 0.3%)
- Australia PPI (YoY) Q1: 1.2% (prev 1.9%)
- Australia Private Sector Credit (MoM) Mar: 0.4% (exp 0.5% prev 0.6%)
- Australia Private Sector Credit (YoY) Mar: 6.4% (exp 6.6% prev 6.6%)
- UK Lloyds Business Barometer (Apr): 38 (prev 43)
- UK GfK Consumer Confidence (Apr): -3 (exp -1 prev 0)
- New Zealand Money Supply M3 (YoY) Mar: 7.8% (prev 7.3%)
- New Zealand ANZ Business Survey Outlook: 32.1 (prev 29.4)
- New Zealand ANZ Business Confidence: 6.2 (prev 3.2)
- PBoC Fixes Yuan At 6.4584 (prev 6.4954)
- Yen spikes to 18-month peak, Amazon softens Apple blow – RTRS
- ECB's Praet: rate cut not expected in near future – RTRS
- Oil prices dip on looming OPEC production rise – RTRS
Markets Update:
USD/JPY fell from 108.20 through 107.60 support and extended losses to 107.07 later in the session. The pair has been under strong pressure in the past 24 hours, since the BoJ decided to keep monetary policy unchanged and further losses seem likely. The next significant support levels lie around 105.50 and 105.20.
The USD weakened across the board amid heavy USD/JPY sales. EUR/USD rallied through 1.1360 and rose to 1.1390. GBP/USD is back above 1.46 and reached a fresh multi-month high at 1.4654 overnight. The commodity currencies also caught a bid, with AUD/USD rising to 0.7655 and NZD/USD to 0.6988.
Upcoming Events:
- 06:30 BST – French GDP
- 07:00 BST – German Retail Sales
- 07:45 BST – French CPI
- 08:00 BST – Spanish GDP
- 09:00 BST – SNB Chairman Jordan speaks
- 10:00 BST – Italian CPI
- 10:00 BST – Euro Zone CPI
- 11:30 BST – FOMC Member Kaplan speaks
- 13:00 BST – BoE Member Cunliffe speaks
- 13:30 BST – US Core PCE Price Index
- 13:30 BST – US Personal Spending
- 13:30 BST – US Personal Income
- 13:30 BST – Canadian GDP
- 14:45 BST – US Chicago PMI
- 15:00 BST – US Michigan Consumer Sentiment
- 20:30 BST – US CFTC Positioning Data
