The aussie has popped higher after the RBA took a step towards tightening policy earlier, with AUD/USD jumping up from 0.7535 to just above 0.7600 currently. That is one of the more notable moves in the market ahead of European morning trade, with bonds continuing to be pressured while equities are meandering a little after the gains yesterday.
Going back to FX, the yen is also slightly higher after some jawboning by BOJ governor Kuroda earlier here. USD/JPY is down 0.2% to near 122.50, keeping close to its key hourly moving averages @ 122.26-42.
AUD/JPY is trading back up to one-week highs above 93.00, gunning for a tenth consecutive week of gains.
Looking ahead, the session will feature euro area services and composite PMI releases but they shouldn't tell us anything we don't already know. As such, the focus will stay on the same moving parts at the moment i.e. the bond market, yen, inflation headlines and for today, the aussie is also a relevant mover after the RBA.
0715 GMT - Spain March services, composite PMI
0745 GMT - Italy March services, composite PMI
0750 GMT - France March final services, composite PMI
0755 GMT - Germany March final services, composite PMI
0800 GMT - Eurozone March final services, composite PMI
0830 GMT - UK March final services, composite PMI
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
