Asia FX Handover - 11th April 2019
Matt Simpson April 11, 2019 5:03 AM
A summary of news and snapshot of moves from today’s Asia session.
- It was a low volatility session for FX, despite the UK being granted a 6-month 'flextension'. GBP remains today's strongest major by a razor-thin margin, commodity FX (AUD, CAD and NZD) are the weakest, weighed down by slightly weaker commodities. EUR and USD are in the middle of the pack with EUR/USD in an 8-pip range after yesterday's ECB meeting.
- Chinese equities led Asia lower as growth worries remained. Oil prices dipped slightly as inventories rose to a 17-month high. Gold hovers around $1306.21 after touching a 2-week high yesterday following the yesterday's Fed minutes.
- On the data front, China's CPI slightly missed expectations, but producer prices picked up for the first time in 9 months to ease deflationary concerns.
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