- Japan April Trade Balance at 69 bio yen surplus.
- BOJ April 30th Minutes.
- Australian economic activity rises 0.3% in March.
- Australian Q1 construction work done down 3.7%.
- Australian May skilled vacancies fall 7%.
- NZ business confidence rises 3.8% in May.
- North Korea warns of a military strike against the South.
A stong US dollar day as USDJPY breaking above 95.00 early morning and never looked back. US dollar was strong against all the majors expect the GBP which stayed bid in Asia all day. Good EURGBP selling and GBPJPY buying were the contributors to GBPUSD staying strong. EURUSD saw sellers above 1.4000 keep a lid on it. The same sellers were seen meeting the market at 1.3985 late afternoon and stalling any attempt to trade above 1.4000.
USDJPY saw an orderly move up to 95.20 taking out small stops above then more triggered above 95.40. The North Korea “military strike” comments late afternoon saw USDJPY stay strong but unable to break 95.50. Technical traders were reluctant to take USDJPY higher as it traded around the 100 day MA (95.41).
AUDUSD bought early morning on the back of potential AUDJPY flows, but when they didnt eventuate traders trimmed longs as weak economic data weighed on the currency.
EURJPY saw bids just under 133 keep it bid for a push to 133.50 late afternoon, but with USDJPY unable to break above 95.50 or EURUSD above 1.4000, it topped out. Stops are said to be placed above 133.75.
Ranges:
EURUSD 1.3946 – 1.4000
GBPUSD 1.5920 – 1.5979
USDJPY 94.90 – 95.48
EURJPY 132.75 – 133.50
AUDUSD 7840 -7886
Goodluck,
Sam
