- Australian unemployment rate falls to 5.2%, full-time jobs grow
- China’s trade surplus over $19 billion
- China’s property prices +12.4% YoY
- Goldmans see possible sharp rebound in commodity prices
- Japans GDP +1.2% in Q1, +5% YoY
- Japan’s CGPI +0.4% YoY
- EUR can weather the crisis: China’s pension fund chief
- South Korea to implement FX forward controls after a 3 month grace period
- South Korea leaves interest rates, accomodative policy, unchanged
- New Zealand raises interest rates by 25 bps
The AUD has been the star performer today, benefitting from the excellent jobs numbers, the positive data out of China, the rise in NZ interest rates and the statements on the commodity markets from GS. All of the above have given the AUD/USD some bullish impetus at one time or another over the session. Ranges: AUD/USD .8269/.8394.
The EUR struggled early in the session as traders feared selling from the Bank of Korea might emerge if it was forced to intervene in the USD/KRW. The statement from the Chinese pension fund helped the EUR/USD to finally break back above 1.2000. Range: 1.1958/1.2043
EUR/GBP has been quite uneventful in a tight range leaving the cable to mirror the moves in the EUR/USD. Traders still remain unsure about the overall effect of the stoush between BP and the US government. Ranges: Cable 1.4511/96, EUR/GBP .8231/55.
USD/JPY has been very quiet in a 25 pip range, 91.14/38.
Markets: Nikkei +0.3%, Sydney +0.9%, HK -0.2%, Korea +0.3%. Gold $1233/oz. Oil $72.25/bbl.
