Currency Updates:
AUD/USD
• Losses post-RBA minutes erode in Europe after limited break of 200-HMA
• Short covering lift has pair near 0.7720 into NY open
• JPY weakness lifts AUD/JPY ~92.65, AUD/USD follows, tests 0.7760 res
• Upped risk sentiment aids lift, gains can’t hold, stock slips & US yields rise
• Pair slips and threatens 200-HMA late in the day
• Oz Q1 CPI to garner all attention in Asia, above f/c data should lift AUD
EUR/USD
• Pair dives below 200-HMA in Europe’s morning on Greek jitters
• Limited follow through, shorts cover, soft JPY lifts EUR/JPY
• EUR/JPY up near 128.75, EUR/USD follows, hits 1.0782
• Thin conditions exaggerate lift, gains erode as USD & US yields firm
• Pair slips towards 1.0730 late in day, choppy action likely to persist
• No major econ date out of EZ or US tomorrow
USD/JPY
• USDJPY higher as Nikkei and Asian stocks in lead higher
• Nikkei futures trade above 20k; up 3% from Monday lows
• USDJPY lags, ends dead square in middle of recent range
• Short term specs long above 200 hma at 119.57
Looking Ahead – Economic Data (GMT)
• 23:50 JP Exports YY Mar f/c 8.5%, 2.4%-prev
• 23:50 JP Imports YY Mar f/c -12.8%, -3.6%-prev
• 23:50 JP Trade Balance Tot Yen Mar f/c 50.0b, -424.6b-prev
• 01:30 AU CPI QQ Q1 f/c 0.2%, 0.2%-prev
• 01:30 AU CPI YY Q1 f/c 1.3%, 1.7%-prev
• 01:30 AU RBA Wghtd Medn CPI QQ Q1 f/c 0.5%, 0.7%-prev
• 01:30 AU RBA Wghtd Medn CPI YY Q1 f/c 2.3%, 2.3%-prev
• 01:30 AU RBA Trim Mean CPI QQ Q1 f/c 0.6%, 0.7%-prev
• 01:30 AU RBA Trim Mean CPI YY Q1 f/c 2.2%, 2.2%-prev
• 01:30 AU CPI Index Number Q1 106.6-prev
Looking Ahead – Events, Other Releases (GMT)
• No Significant Events
