Global Markets:
- Asian stock markets: Nikkei down 1.10 %, Shanghai Composite lost 0.30 %, Hang Seng declined 0.85 %, ASX 200 fell 0.25 %
- Commodities: Gold at $1237 (-0.25 %), Silver at $16.98 (-0.15 %), WTI Oil at $42.90 (+0.55 %), Brent Oil at $44.60 (+0.60 %)
- Rates: US 10 year yield at 1.90, UK 10 year yield at 1.61, German 10 year yield at 0.26
News & Data:
- South Korea GDP (YoY) Q1, P: 2.7% (exp 2.7% prev 3.1%)
- South Korea GDP SA (QoQ) Q1, P: 0.4% (exp 0.4% prev 0.7%)
- PBoC Fixes Yuan At 6.4882 (prev 6.5120)
- Big Week For BoJ As Surging Yen Piles On Easing Pressure — FT
- Asian stocks retreat ahead of Fed, BOJ meetings – RTRS
- New U.S. home sales drop on sharp decline in the West – RTRS
- Oil futures rise on weaker dollar, new cash inflows – RTRS
Markets Update:
USD/JPY extended losses overnight and fell to 110.85 as Asian stock markets declined at the open. Support is noted in the 110.50-60 area, with stops resting below. Volatility will remain high in the coming days with the FOMC minutes being released tomorrow and the Bank of Japan deciding on interest rates on Thursday.
EUR/USD bounced off 1.1215 and is slowly rising back towards 1.13. Offers are noted at that level and ahead of 1.1350. GBP/USD traded above 1.45 yesterday, but fell to 1.4478 in the early Asian session. Bids are noted at 1.4400/05 and 1.4360, while offers rest at 1.4520 and 1.4580.
AUD/USD was quiet overnight and traded in a 0.7705-25 range. NZD/USD bounced off 0.6840 support again and rose to 0.6888 in Asia.
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