Global Markets:
- Asian stock markets: Nikkei up 2.10 %, Shanghai Composite gained 0.20 %, Hang Seng fell 0.05 %, ASX 200 rose 0.20 %
- Commodities: Gold at $1266 (-0.05 %), Silver at $17.05 (-0.35 %), WTI Oil at $43.45 (-0.05 %), Brent Oil at $43.85 (+0.45 %)
- Rates: US 10 year yield at 1.77, UK 10 year yield at 1.41, German 10 year yield at 0.13
News & Data:
- Australia ANZ Roy Morgan Weekly Consumer Confidence Index (W/E 08 May): 113.9 (prev 113.9)
- UK BRC Sales Like-For-Like (YoY) Apr: -0.9% (exp 0.5% prev -0.7%)
- Fed's Williams: Fed Should Re-Evaluate 2% Inflation Goal In Future
- Williams: CNY Unlikely To Replace USD As Reserve Currency Of Choice
- Asian stocks at 2-month lows as oil weighs; dollar up – RTRS
- Oil prices stable as brimming storage counters supply disruptions – RTRS
- Japan will intervene if 'one-sided' yen moves persist: Aso – RTRS
- Yen pressured after Japan's verbal warning, dollar gains traction – RTRS
Markets Update:
The US Dollar further extended gains today. USD/JPY rallied from 108.30 to 108.80 after a warning from Japan's finance minister that Japan will intervene if one-sided yen moves persist. Resistance now lies at 109.25 and 110.00.
Price action in the other major pairs was rather quiet overnight. EUR/USD traded in a 1.1370-90 range, while GBP/USD consolidated between 1.4395 and 1.4420.
AUD/USD fell to 0.73 after the Tokyo open, but was able to bounce from there and recovered to 0.7340. NZD/USD has broken below 0.6760 support overnight and extended losses to 0.6733 later in the session.
Upcoming Events:
- 07:00 BST – German Industrial Production
- 07:00 BST – German Trade Balance
- 08:15 BST – FOMC Member Dudley speaks
- 09:00 BST – Norwegian CPI
- 09:30 BST – UK Trade Balance
- 15:00 BST – US JOLTs Job Openings
- 15:00 BST – US Wholesale Inventories
- 21:35 BST – US API Weekly Crude Oil Stock
- 22:05 BST – RBNZ Governor Wheeler speaks
