- Japan CPI falls 0.1% in March.
- Japan household spending falls 0.4% in March.
- Japan’s unemployment rate rises to 4.8% in March.
- Talk that the Federal Reseve will postpone stress test results.
- Australian manufacturing sector output falls to a record low of 30.1 in April.
- South Korea exports fall 19% in April, imports fall 35.6%.
- China April PMI rises to 53.5.
- China’s Citic Securities sees net profit fall 40%.
All the interest was in the morning with the afternoon proving to be a fizzer. EURJPY buying helped get the ball rolling. Stops were taken out above 131.30 and USDJPY stops above 99.00 were triggered also, with the japanese CPI/unemployment rate data proving to be the catalyst for the move. Market was thin, volumes were low and players had no intention to hold onto positions. AUDUSD didnt see any light above 7300, offers there were too strong and together with AUDJPY selling , the Aussie drifted off to test yesterday’s lows. China PMI number released was better than expected and acted as a buy signal lifting AUDUSD off the lows.
The afternoon saw no significant moves to talk about other than some bids at 130.80 in EURJPY.
Ranges:
AUDUSD 7240-7294
EURUSD 1.3216 – 1.3268
GBPUSD 1.4752 – 1.4821
USDJPY 98.50 – 99.16
EURJPY 130.26 – 131.51
Goodluck,
Sam
