JPY sinks as S&P500 rallies 1% shy of.........>

FOREX: JPY sinks as S&P500 rallies 1% shy of alltime highs

-JPY was comfortably the worst performer in G10 Friday as an impressive showing

from global equities dented the risk haven alongside the USD and CHF. Sentiment

was already running high following better Chinese trade balance numbers (the

China trade surplus was the biggest beat on expectations since 2015) and was

cemented by better financing figures later in the session. US bank earnings

proved mixed, with JPMorgan's strong Q1 contrasting with a slightly soft Wells

Fargo report. Nonetheless, US equities marched higher, with the S&P500 printing

north of 2,900 and coming within 1% of the alltime highs printed in October last

year.

-Stronger risk sentiment favoured AUD and NZD which looked to finish the week on

a high. AUD/USD has, so far, been unable to break above the 200-dma at $0.7195,

which becomes the first target for bulls Monday.

-Highlights of the coming Easter-shortened week include German ZEW survey, UK

unemployment and inflation data, prelim Eurozone PMIs and US retail sales.

Earnings season continues with 13% of the S&P500 reporting.