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Rangey In Absence Of Data

FOREX

A quiet session in terms of news flow so far, with an extremely thin economic docket to boot.

  • AUD is flat, holding gains from Friday. There could be some caution around the latest coronavirus developments; Brisbane, Australia's third most populated city, has declared a three-day lockdown from Monday 29 March due to four confirmed community cases of the UK variant of the virus.
  • NZD is slightly weaker, currently around 7 pips lower. Stats NZ released their monthly employment indicators. Filled jobs were little changed on a M/M basis.
  • JPY is softer, bringing USD/JPY close to 110. The BoJ Summary of Opinions were released, the board says the current policy framework is hoped to serve for many years ahead as the basic guidance for mon pol easing.
  • Offshore yuan is weaker. Over the weekend US Trade Representative Tai says the US isn't ready to lift tariffs on Chinese imports soon. USD/CNH has moved in a range, last up 21 pips at 6.5421.
  • EUR has given back slightly, German Chancellor Merkel has threatened to use federal law if states do not act to contain the virus, measures could include curfews among others.

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