- RBA’s Lowe: Australian economy to continue to expand over next few years
- Australia’s March consumer confidence +0.2%
- Australia’s home loans fall unexpectedly
- Japan’s core machinery orders -3.7%, MoM
- NZD makes steady recovery ahead of tomorrow’s RBNZ meeting
- USD/JPY and EUR/JPY still influenced by talk of repatriations
Another brutally boring Asian session which was only notable for the GBP making new multi-decade lows against the AUD. The majors traded in 25 pip ranges with the exception of the GBP which fell against all other major currencies.
EUR/USD traded in a 1.3588/1.3613 range. Sell orders at 1.3620 and bids at 1.3570 are corralling the market but stops are building both sides, above 1.3630 and below 1.3525 and a bigger move is surely imminent. EUR/JPY was tired after some big moves yesterday and saw only a 122.16/59 range.
Cable fell from 1.5010 to 1.4960 when a GBP/JPY flow hit the market in early Tokyo trade and it has been unable to recover since. Sovereign bids are seen starting at 1.4930 through 1.4875. Stops are said to be building now above 1.5040. Range: 1.4959/1.5016
The AUD/USD jumped early in the session after more bullish comments from the RBA. AUD/NZD selling ahead of tomorrow’s RBNZ meeting helped temper gains. Stops are noted close by above .9180. Range: .9133/63.
USD/JPY traded in a tight 89.85/90.08 range.
Markets: Nikkei, HK and Kospi were all basically flat on the session. Gold added $2.50 to $1125.50/oz.
