Asia FX Handover - 19th March 2019

  • In the March minutes, RBA cited “significant uncertainties” surrounding their economic outlook with trade remaining a “continued source of uncertainty”. Still no strong case for a rate-change for the near-term, although they see scenario’s for either a hike or a cut. They see risk of slower dwelling investment and await more data to resolve the tension between solid employment and soft growth.

  • After a soft start, GBP pared losses sustained when Theresa May's third vote was blocked by parliament.

  • Tight ranges for FX overall (all pairs remain well within their average daily ranges) although JPY and GBP are the strongest majors whilst USD is the weakest.

  • DXY is trading just above yesterday’s lows around 96.40, WTI and Brent remain near their highs whilst meandering around the 200-day eMA. Gold edged it was to a 3-day high, USD/CHF is flirting with parity.

Related tags: Forex Forex

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