Forex news for Asia trading Thursday 10 April 2015:
- China March CPI 1.4% y/y vs 1.3% expected
- Nikkei breaks 20,000 for the first time since 2000
- Highlights from the Treasury currency manipulation report
- Australia housing finance +1.2% vs +3.0% expected
- Fin min English says it's now "less likely" that New Zealand will post a 2014-15 budget surplus
- New Zealand govt net debt at NZ$ 63.54bln as of Feb 28
- RBC now expects RBA to cut rates to 1.50% by mid-2016
- Japan's Aso: It's clear foreign investors buying Japanese stocks
- Hillary Clinton could announce Presidential run Sunday - report
- UK Election 2015: Latest poll shows SNP winning 53 of 59 seats in Scotland
- Hang Sang up 0.5%
- Shanghai composite +1.4%
- EUR and NZD lead, USD and CAD lag
After a strong run for the US dollar in New York trading it was time for some consolidation and a minor retracement.
The euro was particularly hard hit in US Trading but found some support at 1.0643 ahead of Asian trading and continued to climb, reaching 1.0682 before a dip down to 1.0666 then a rise to 1.0678 last.
Cable hasn't been able to rebound as effectively as election jitters continue to weigh. The pound climbed as high as 1.4724 but is back down to flat in Asia at 1.4715. All the focus in the day ahead will be on the cycle low at 1.4632 and whether or not it can hold.
USDJPY is fractionally lower so far at 120.51 and fell as low as 120.41 but hasn't been able to find any kind of theme.
The Australian dollar had a minor dip to 0.7694 from 0.7718 after the China CPI numbers but immediately erased all the declines. It's been grinding modestly higher throughout the day.
There will be some focus on CAD ahead of jobs data later but it was quiet in a 1.2574 to 1.2592 range in Asia.
