The NY session witnessed some pretty sloppy price action but the overall flavor was for more risk taking. US equities jumped more than +1.5% on another end of day rally. Gold came off a hard -$15 and was sitting near the next crucial support by 873/872 -- below opens up to the nearby 865 lows next. US Treasuries were also shed with the 10-year yield popping 7 basis points to 2.83%.

In FX land, it was the yen crosses that saw most of the action as they followed stocks higher for the most part. USD/JPY jumped 50 pips and was sitting near 99.30 at the NY close. The pair remains in an hourly sideways triangle here with immediate resistance near 99.30/40 and upside potential to 99.90 if above there. EUR/JPY jumped 60 pips towards 130.90 in the session. The 131 level still looks like the short-term pivot here and above sees back to the 55hr moving average by 131.70/80.

EUR/USD was choppy and closed right near the NY open by 1.3180/90. It still looks to be in a descending hourly triangle and has crucial support into 1.3120. Below 1.3090 should see weakness accelerate further. One of the cleaner trades today was in USD/CAD, which was sitting 20 points higher by 1.2070/75 at the close. The hourly down channel here contained the range and the top was good resistance now by 1.2140 -- below 1.2030 sees to the 1.1970 channel bottom.

Upcoming Economic Data Releases (Asia Session) prior  expected

  • 4/16 22:45 GMT NZ  Food Prices (MoM)  MAR  0.20%  - -
  • 4/16 22:45 GMT NZ  Consumer Prices (QoQ)  1Q  -0.50%  0.30%
  • 4/16 22:45 GMT NZ  Consumer Prices (YoY)  1Q  3.40%  3.00%
  • 4/16 23:50 GMT JN  Tertiary Industry Index (MoM)  FEB  0.40%  -0.80%
  • 4/17 0:00 GMT US  Fed's Yellen Speaks on Economic Crisis
  • 4/17 1:30 GMT AU  Import price index (QoQ)  1Q  10.80%  - -
  • 4/17 1:30 GMT AU  Export price index (QoQ)  1Q  15.90%  - -
  • 4/17 3:00 GMT JN  ECB's Trichet Speaks in Tokyo  17-Apr  
  • 4/17 3:00 GMT NZ  Non Resident Bond Holdings  MAR  74.30%  - -
  • 4/17 5:00 GMT JN  Consumer Confidence  MAR  27.6  30
  • 4/17 5:00 GMT JN  Consumer Confidence Households  MAR  26.7  29
  • 4/17 5:30 GMT JN  Tokyo Dept. Store Sales (YoY)  MAR  -11.70%  - -
  • 4/17 5:30 GMT JN  Nationwide Dept. Sales (YoY)  MAR  -11.50%  - -