Asia FX Handover - 24th April 2019

  • AUD plummeted across the board on today’s CPI miss. With RBA likely wrongfooted on inflation, expectations for RBA to cut in May have risen. AUD/USD hones-in on 70c and AUD/JPY was the biggest mover, down over -1% at the session low.  
  • Asian equities mostly failed to track Wall Street higher and trade lower for the session, although the ASX200 extended gains and pierced the 2018 high with expectations of a Dovish RBA.
  • Index futures trade slightly lower with oil, USD/CAD is probing the March high ahead of today's BOC meeting and USD/CHF holds onto 1.0200 after launching itself to a 2-year high yesterday. Cable is currently coiling after hitting a 5-week low yesterday.  

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