Asia FX Handover
|- AU employment dispelled rate-cut concerns yet failed to invoke a rally. AUD spiked broadly higher on the release, which saw employment beat expectations by 13.7k and unemployment tick higher 5% in line with consensus. Yet the Aussie failed to hold onto gains, and currently trades around the middle of the pack.
- Japan’s flash manufacturing PMI beat expectations although remains in contraction mode for a third consecutive month. Still, at 49.5 it’s the slowest rate of contraction this year, on the verge of moving above 50 and suggests the cycle low could be in.
- A US trade representative is ‘tentatively’ set to travel to Beijing on the week of April 29th.
- JPY is currently the strongest major, NZD and CAD are the weakest. Low ranges overall as we head towards the final sessions ahead of the Easter weekend. Japanese equities tracked Wall Street lower, with US futures down around -0.3%. WTI remains within a potential bull flag, GBP looks uninspired, trading in a tight range just above 1.30.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.