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Markets Somnambulate Towards NFP

FOREX

Thin volumes and news flow with several markets closed for holidays, while the usual pre-NFP lull is also expected to engender a subdued session.

  • Little to report so far, AUD and NZD both slightly higher as the greenback gives some more ground, oil is also holding near its highs following the conclusion of the OPEC+ meeting, which is helping support high beta currencies.
  • JPY slightly stronger, USD/JPY shedding around 2 pips. Data earlier showed March monetary base rose 22.8% Y/Y, the release did not have any effect on JPY.
  • Offshore yuan is stronger, USD/CNH down 11 pips at 6.5736, still well within yesterday's range, sources note bids at 6.57. Sino-US tensions continued to summer, in the latest development US Senate minority leader McConnell said the US must work with partners to impose consequences on China over Hong Kong.

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