Antipodeans breathe sigh of relief as GDP.....>

FOREX: Antipodeans breathe sigh of relief as GDP adds weight to USD

-NZD and AUD sit close to the top of the pile Friday, granted some reprieve

after a poor week as a strong Q1 US GDP headline number was contradicted by a

poor set of underlying figures as GDP price index and core PCE came in well

below expectations. The USD index initially fared well, topping out at near-two

year highs before pulling back below the Thursday lows.

-EMFX had a mixed session, with TRY falling further on signs of renewed domestic

political uncertainty while ZAR outperformed on better precious metals prices.

After a spell of sharp weakness mid-week, SEK recovered slightly Friday as March

retail sales firmly beat expectations.

-Japan's extended Golden Week holidays is likely to keep liquidity thin and

volumes low during Asia-Pacific hours, with focus falling on the MNI Chicago PMI

report, April Manufacturing ISM and Nonfarm Payrolls. Central bank decisions are

due from the Bank of England and the Federal Reserve. US earnings season rolls

on, with over 30% of the S&P500 reporting earnings next week, including Apple,

Alphabet and Berkshire Hathaway.