ForexLive Asia FX news: Cable slips 40 points in Asia (rounding error?)

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Wednesday 19 April 2017

After a 400 point (give or take) rally during UK/Europe/US time cable had a small range only during Asia. Its arguable whether 40 points is a rounding error, but maybe the whole time zone is?

Anyway, those looking for continued volatility after the huge surge overnight were disappointed, but with Europe/UK no too far away perhaps its just about to come again.

There was nothing in the way of news nor fresh catalysts to prod GBP.

Elsewhere, after underperforming in the overnight the AUD lost further ground today. Early support from some AUD/JPY interest (and government bond sales) gave way in early China time to a slew of sellers hitting bids, pushing AUD/USD to circa 0.7525 before some tentative support prevailed. Macro and trader names the sellers.

We got the weekly consumer sentiment data from Australia today (week ended April 16). While this high-frequency data point is quite noisy, there is a downtrend established for it. Given that private consumption makes up circa 60% of the economy the slide in sentiment like this is not a positive.

AUD losses were given a little nudge along by a little USD strength (GBP lower already mentioned) with both EUR and CHF losing a little ground. USD/JPY had popped (small) early, toward 108.70, but as of updating is now little changed on the session. NZD/USD, too, little changed net on the session.

Gold is a few dollars lower (not much in it) while oil dropped on the private inventory data in the US afternoon

Regional equities:

  • Nikkei -0.01%  
  • Shanghai -1.11%
  • HK -0.70%
  • ASX -0.62%