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Exp. Asia-Pac trade to be ltd with............>

FOREX
FOREX: Exp. Asia-Pac trade to be ltd with Singapore, HK, Australia & NZ (as well
as EU & North America) closed for Easter, leaving Shanghai, Tokyo & Seoul open.
- JPY & USD outperformed on Thursday, with the EUR bearing the brunt of
disappointing EZ PMI data, while U.S. retail sales topped exp. Conversely, U.S.
soft data, including the latest round of PMI surveys & Philly Fed Biz outlook
disappointed. EUR/USD closed around at $1.1230, operating just above at writing.
- USD/JPY traded around Y112.00, closing just below. RTRS sources suggested the
BoJ will trim its GDP & CPI exp. in next week's quarterly economic projections.
- Elsewhere, NZD/USD edged back towards its post NZ CPI lows, with the kiwi
finding itself at the bottom of the G10 FX pile. AUD/USD also struggled for
upside momentum, failing to close above the 200-DMA yet again, while AUD/NZD
closed above its 200-DMA, at NZ$1.0700, as the latest round of labour market
data tipped the Antipodean cross in favour of AUD.
- SEK struggled in the wake of disappointing domestic labour market data.
- Focus Friday falls on Japanese CPI data & BoJ Rinban operations. U.S. building
permits & housing starts will also hit, in spite of the Easter holidays.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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