Global Markets:
- Asian stock markets: Nikkei up 0.85 %, Shanghai Composite gained 0.25 %, Hang Seng fell 0.45 %, ASX 200 rose 1.10 %
- Commodities: Gold at $1240 (-0.15 %), Silver at $14.95 (+1.40 %), WTI Oil at $34.77 (+0.30 %), Brent Oil at $36.95 (+0.10 %)
- Rates: US 10 year yield at 1.86, UK 10 year yield at 1.47, German 10 year yield at 0.21
News & Data:
- Caixin China Services PMI (Feb): 51.2 (prev 52.4)
- Caixin China Composite PMI (Feb): 49.4 (prev 50.1)
- Japan Services PMI (Feb): 51.2 (prev 52.4)
- Japan Composite PMI (Feb): 51.0 (prev 52.6)
- Hong Kong Nikkei PMI (Feb): 46.4 (prev 46.1)
- Australia Trade Balance (Jan): AUD -2937 Mln (exp AUD -3200 Mln prev AUD -3535 Mln)
- New Zealand ANZ Commodity Price (MoM) Feb: 0.4% (prev -2.3%)
- South Korea CPI (MoM) Feb: 0.5% (exp 0.1% prev 0.0%)
- South Korea CPI (YoY) Feb: 1.3% (exp 0.9% prev 0.8%)
- PBoC Fixes Yuan At 6.5412 (prev 6.5490)
- Japanese PM Abe: Have Seen JPY Demand On Back Of Risk Aversion — BBG
- Japanese Government Official: No Talk On JPY At G20 — RTRS
- Asia shares scale 7-week peak, commodities on the mend – RTRS
- Wall St. rises late, led by energy and bank shares – RTRS
Markets Update:
USD/JPY bounced off the 113.20 level ahead of yesterday's NY close and caught a bid in Asia as equity markets opened higher. The pair rallied to a high of 114.14 and resistance is now seen at 114.60 and 115.00. Further consolidation seems likely ahead of tomorrow's NFP release.
EUR/USD found some support at 1.0825 yesterday and reached a high of 1.0875 in Asia, but continues to trade with an offered tone. Support is seen at 1.08 and a break below would pave the way for a 1.06 test.
GBP/USD recovered somewhat in the past few trading days and it hit a high of 1.4092 overnight. However, on-going fears about a potential Brexit is likely to keep the Pound under pressure. Expect decent resistance at 1.4150, followed by 1.4225.
Upcoming Events:
- 08:45 GMT – Italian Services PMI
- 08:50 GMT – French Services PMI
- 08:55 GMT – German Services PMI
- 09:00 GMT – Euro Zone Services PMI
- 09:30 GMT – UK Services PMI
- 13:30 GMT – US Initial Jobless Claims
- 14:45 GMT – US Services PMI
- 15:00 GMT – US ISM Non-Manufacturing PMI
- 15:00 GMT – US Factory Orders
