Asia FX Handover - 3rd April 2019

A snapshot view of currency moves throughout the Asia session, ahead of the UK open.

  • China’s service PMI hit a 14-month high, lifting sentiment to send equity markets broadly higher ahead of US-China trade talks.
  • AUD was off to a good start early on thanks to firmer than expected data. Broad retail sales had its best month since late 2017 (despite online sales having their worst month ever) whilst trade balance surplus hit a record high. AUD/CHF and AUD/JPY are today’s biggest movers during a mild risk-on session.
  • EUR/USD considers a bounce from key support levels, WTI edged to a new high around $62.77, US10Y hovers around 2.5% and trades slightly higher for the day.
  • Trump reportedly phoned Fed Chair Powell on the 8th of March and conceded “I guess I’m stuck with you”. Good to know, even if a little late. 

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