Reporting on key macro data at the time of release.
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FOREX: Risk rally inspired by a STAT report citing improvement in the condition
of Covid-19 patients treated with Gilead's experimental drug has set the tone of
early Asia-Pac trade. The yen is in retreat, closely trailed by the greenback.
Commodity-tied FX trade on a stronger footing, with AUD taking the lead and
hitting new highs as we type.
- The likes of MXN & ZAR have benefitted from the risk-on mood. In Mexico, the
central bank suggested that it will not pay out the surplus from its FX reserves
early, as requested by President Andreas Manuel Lopez Obrador.
- China's Q1 GDP & monthly economic activity indicators provide the highlight of
today's Asia-Pac session. Also of note are Japan's final industrial output and
South Korea's unemployment.