Trial now

(Z1) Off Lows, But Remains Weak


Still Vulnerable


Bullish Price Sequence

FOREX: Risk appetite continued to recover in the Asia-Pac session, as
participants focused on the positives in China's daily update on coronavirus
figures. The rate of new cases confirmation decelerated, while an uptick in
recoveries overshadowed further deaths. Worth highlighting that a story was
doing rounds on social media re: changes in methodology, which might distort the
readings, but participants paid more attention to the bright side. 
- Safe haven FX underperformed their peers from the G10 basket, while high-betas
led gains. AUD topped the pile, drawing additional support from firmer than
expected Australian housing finance data. NZD tread water ahead of the imminent
monetary policy decision from the RBNZ.
- USD/Asia edged lower as regional EMFX benefited from appetite for riskier
assets. USD/CNH slipped under yesterday's low & the 50-DMA is now in sight.
- UK flash Q4 GDP & monthly economic indicators takes focus on the data front.
There's a whole host of central bank members set to make addresses, with Fed's
Powell, Quarles, Bullard, Kashkari & Daly, ECB's Lagarde, Schnabel & Lane, as
well as BoE's Carney & Haskel due to speak.
MNI London Bureau | +44 203-865-3806 |
MNI London Bureau | +44 203-865-3806 |