ForexLive Asia FX news wrap: AUD drifted down ahead of Debelle, then popped

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 10 April 2019

It was a sell the rumour (of a dovish Debelle) and buy the fact session for the AUD. Ahead of RBA Deputy Governor GuyDebelle's speech today the Australian dollar lost ground, lower by about 20 points from its earlier high. A bit of chatter about that Debelle would be very dovish. Well, he wasn't. He was not hawkish but his comments were pretty much in line with what we have been getting from the RBA. The AUD popped back to pierce its earlier high (only by a few tics, as I update at least).

Forex news for Asia trading Wednesday 10 April 2019 aud chart

News and data flow did not move the forex around too much otherwise. We got data from Japan, with Core machinery orders falling y/y for a second consecutive month in February. USD/JPY played out the session in a small range low, from just under 111.10 to just above 111.20. BOJ Governor Kuroda spoke in parliament and he has a speech scheduled later today, at 0615GMT.

EUR/USD had a small range also, from just above 1.1265 it has lost around 10 points for the session. USD/CHF has traded higher by a similar magnitude. Cable is barely changed on the session as we await the decision on an extension date from the EU at Wednesday's leaders' summit.

Gold lost some ground. Following the overnight pressure on equity markets ffrom the IMF growth downgrade and EU-US trade tensions regional stock markets were mainly a touch weaker.  

Still to come:

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