Japan Machinery Orders (YoY) below forecasts (0.6%) in March: Actual (-0.7%)

Japan Machinery Orders (MoM) below expectations (2.1%) in March: Actual (1.4%)

Dollar weakness on weaker US interest rate expectations – ANZ

Analysts at ANZ explained that, overnight, the USD weakened further as markets marginally trimmed US interest rate expectations (US 10-year yield fell to 2.33%).  Key Quotes: "The sell-off is continuing in the aftermath of Trump’s sacking of FBI director Comey (increasing politica ...

AUD/USD ripe for another upside test beyond 20-d sma at 0.7433 cap?

Currently, AUD/USD is trading at 0.7428, up 0.02% on the day, having posted a daily high at 0.7434 and low at 0.7423. AUD/USD has been up to meet a critical resistance overnight being the 20 daily sma at 0.7433. The Aussie was capped there but the greenback is ripe for another challenge at thi ...

US & EU data: a healthy start to output growth for Q2 for US – ANZ

Analysts at ANZ explained that US industrial production and manufacturing output data for April both rose 1.0% m/m.  Key Quotes: "That was the strongest monthly rise in industrial production in three years. Capacity utilisation, at 76.7%, rose to its highest level since August 2015. Th ...

New Zealand Producer Price Index – Input (QoQ) dipped from previous 1% to 0.8% in 1Q

Crude down in Asia as API reports surprise build

Investing.com - Crude prices dropped in Asia on Wednesday after industry estimates showed a surprise build in U.S. oil supplies. On the New York Mercantile Exchange crude futures for June delivery dropped 0.78% to $48.28 after the API figures. On London's Intercontinental Exchange, Brent was las ...

New Zealand Producer Price Index – Output (QoQ) dipped from previous 1.5% to 1.4% in 1Q

What are the key event risks coming up? – Westpac

Analysts at Westpac offered the key event risks coming up. Key Quotes: "NZ: PPI in Q1 is likely to rise from a 1.5% annual pace, unsurprising given we already have the Q1 CPI data. Australia: May Westpac-MI Consumer Sentiment will give the first post-budget read on consumer’s thinking ...

NZD/USD: lower highs below 0.6950, greenback upper hand longer term

Currently, NZD/USD is trading at 0.6885, up 0.09% on the day, having posted a daily high at 0.6890 and low at 0.6882. Forex Today: dominated by US political uncertainties and a change of mood in the dollar NZD/USD has continued to make lower highs on recovery attempts within the progressivel ...

Dairy prices continue to show strength – ANZ

Following today's GDT Price Index, analysts at ANZ explained that dairy prices continue to show strength, especially for milkfat, which has pushed to all-time highs on the GlobalDairyTrade platform. Key Quotes: "Combined with a capped (in effect weaker) NZD/USD, we have lifted our mil ...

Growing price instability in EUR/SEK

EUR/SEK was a game of two halves in yesterday's trading, forming a high wave candlestick pattern on this time frame.While closing the day above the 21-day simple moving average, this pair has thrown in a large bodied candlestick with seemingly large upper and lower wicks. Both buyers and seller ...

US data under the spotlight: tracking GDP model unchanged – Nomura

Analysts at Nomura offered the latest data reviewed from the US session. Key Quotes: Housing starts: Housing starts fell 2.6% m-o-m to an annualized pace of 1172k in April, weaker than expectations (Nomura and Consensus: +3.7% to 1260k). Building permits declined 2.5% to 1229k annualized pace i ...

Market wrap: concerns over US Administration – Westpac

Analysts at Westpac offered a market wrap as follows: Key Quotes: "Global market sentiment: The US dollar and interest rates fell overnight, partly reflecting concerns about developments in the Administration. Senate majority leader McConnell called for less drama in th ...