Broad based US dollar rebound was the underlying theme in a holiday-quiet Asian session this Monday, with markets digesting latest development on the Brexit deal-front. As a result, the pound remained under heavy selling pressure, while the Yen also suffered amid resurgent USD demand and risk-on market profile.
Later today, we have an empty EUR calendar, as most major European markets along with UK markets remain closed in observance of their respective holidays. Hence, focus remains on the US treasury secretary Mnuchin’s speech due ahead of the US open. Also, a spate of US macro data, including the Core PCE price index, personal spending and ISM manufacturing PMI, will grab a lot of attention ahead of the FOMC meeting due on Wednesday.
Main topics in Asia
According to the Washington Post, a few unnamed senior congressional aides are now being quoted, noting that Full House and Senate still must approve the deal.
UK Press: Theresa May renews threat to walk away from EU without a deal
Brexit headlines reported on the front page of the UK Times for Monday, cited that the UK PM Theresa May renews threat to walk away from EU without a deal.
USD longs reduced, GBP shorts cut - ANZ
The research team at ANZ lists down the CFTC positioning data for the week ending 25 April 2017.
NZ Treasury report: Economic expansion persisting at a solid pace
The New Zealand Treasury team is out with its latest monthly economic indicators report, highlighting the following..
NZ PM English: NZD in 66-70 US cent range sustainable for exporters - BBG
Key Focus ahead
European data risks this week? - Nomura
Analysts at Nomura offered their outlook for the week ahead in Europe.
Busy calendar: Central Banks, US NFP and Le Pen facing Macron in runoff election
The week ahead could be one to shake the foundations of the FXspace and set the tone for the rest of this year.
Key events this 'BUSY' week for the US - Nomura
Analysts at Nomura offered a round-up of the key events in the US this week, explained that recent data on employment point to a return to trend in nonfarm payroll gains in April following a downside surprise in March.
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