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Antipodeans Sag Ahead Of Easter

FOREX

The Antipodeans led high-beta currencies lower, with liquidity in Australia and New Zealand likely thinned ahead of the Easter holidays. AUD/USD approached support from Mar 25 YtD low of $0.7563 amid chatter about the liquidation of AUD longs during the release of Australian retail sales data. AUD/NZD extended its losing streak to four days in a row.

  • CAD was hurt by a CBC source report noting that Ontario will be placed under a 28-day lockdown from Saturday.
  • JPY led gains in the G10 basket despite a round of sales into the Tokyo fix. USD/JPY jumped to its session high of Y110.82 around that time, but gave up all earlier gains thereafter.
  • The PBOC set its USD/CNY mid-point at CNY6.5584, just 3 pips shy of sell-side estimates. USD/CNH rallied past yesterday's high on a surprise deterioration in China's Caixin M'fing PMI, which printed at 50.6.
  • Global PMI data, U.S. construction spending & initial jobless claims, Canadian building permits & German retail sales take focus on the data front. Fed's Harker will speak at a fintech symposium.
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