Currency Updates:
AUD/USD
• Bears rule inEurope’s morning, push pair to 200-HMA but can’t go further
• Early NY sees USD rally weaken, intra-day bears begin covering
• Broad based USD weakness takes hold on soft US data
• AUD/USD lifts to 0.7790, USD slide abates a bit &pair dips
• Sits ~0.7775 late in the day; No data o/n so action likely limited
EUR/USD
• Europe can’t crack 1.0650/60 supt, ACB & corp buyers repel the slide
• Short cover bounce sees 1.0735 into NY open, bulls lift in early NY
• USD stays firm post-claims, leveraged buy USD, EUR/USD dips ~1.0735
• Weak US housing data & upbeat Greek news combine to rally
• Steady climb ensues, spec offers ~1.08 cleared, high of 1.0846 made
• Stops above 1.0850 safe but vulnerable as little pullback from high
• Near 1.0835 late in the day
USD/JPY
• USDJPY fails to capitalize on higher stocks
• Nikkei at 15 yr high, S&P new record
• US rates down; expectations low for tomorrow Durable Goods
• Pair weighed by broader weak USD trade; still rangebound
• Holds 200 hma at 119.42 but trades heavy
GBP/USD
• EUR/GBP rallied from European lows by 0.7118 after soft UK ret sales data
• Lifted to highs by 0.7194 by NY’s end, upcoming UK elections also weigh on GBP
• GBP/USD rallied off UK ret sales data miss lows by 1.4960 after US new hm sales fall
• Cable rallies by London close, large USD/CHF sales press on USD
• Oil (CLc1) moves to 2015 high by 58, EM CCYs/equities rise traders shift from Europe
• UK Mar retail sales ex-fuel +0.2% vs +0.4% f/c
Looking Ahead – Economic Data (GMT)
• No Significant Data
Looking Ahead – Events, Other Releases (GMT)
• 03:00 JP BOJ Dep Gov Nakaso speaks on the long-term prospects for Asia’s economy hosted by the Securities Analysts Association of Japan
