Beige Book: US aggressive trade policies to be a concern? – Nomura

Analysts at Nomura explained that the Beige Book prepared for the 1-2 May FOMC meeting will likely provide useful context for the business community’s reaction to the Trump administration’s recent aggressive trade policy announcements. Key Quotes: "The minutes for the Marc ...

Japan Imports (YoY) came in at -0.6% below forecasts (5.4%) in March

Japan Merchandise Trade Balance Total came in at ¥797.3B, above forecasts (¥498.3B) in March

Japan Exports (YoY) below expectations (4.7%) in March: Actual (2.1%)

Forex today: corporate earnings in focus, dollar a proxy trade on data

Forex today was once again governed by corporate earnings season and positive reports making for higher stocks and risk on while German and UK were traded off for a stronger dollar. However, there was little in the way of action in the bond market, yields were edging lower on both the long-term an ...

Trump: US in “extremely high-level” talks with N.Korea – Reuters

As reported by Reuters, US President Donald Trump has announced that the US and North Korea have been talking directly, and are set to prepare a meeting between the two countries' leaders. Key quotes: "Trump made the comment as he and Japanese Prime Minister Shinzo Abe opened two days o ...

USD/JPY: JPY is showing impressive resilience – Scotiabank

Analysts at Scotiabank noted that USD/JPY is consolidating within a remarkably tight range just above Friday’s two month low. Key Quotes: "Domestic developments have been limited and PM Abe is meeting President Trump in Florida." "JPY is showing impressive resilience in th ...

Event risk: a quiet Asia, but what will follow? – Westpac

Analysts at Westpac noted the key events coming up while the Asia-Pacific calendar is low key. Key Quotes: "Westpac leading index and Malaysia CPI, ahead of Australia’s March jobs data tomorrow. UK data risk continues with March CPI. The consensus is 0.3%mth, 2.7%yr, with the core rat ...

AUD/JPY bouncing on the floor ahead of Japan merchandise trade figures

The Aussie is shifting lower against the Yen as a lack of data and confidence saps the AUD. Japan merchandise trade figures could kick the mix into gear. The AUD/JPY continues to grind lower, and the pair is trading near 83.20 in the overnight session. The Aussie has been losing ground to th ...

Atlanta Fed’s Bostic: US trade policy is confusing businesses

Head of the Atlanta Federal Reserve, Raphael Bostic, is speaking at a conference hosted by Bloomberg Tax in Atlanta. Key highlights: Bostic hears consistent complaints about 'labor shortages'. The Fed's policy goals should be to develop a more neutral stance. The US economy i ...

Market wrap: US earnings make for risk-on – Westpac

Analysts at Westpac offered their review of the US and European session noting that US and European equities rallied with help from ongoing strong US corporate earnings reports.  Key Quotes: "UK Feb unemployment dropped to a 43 year low of 4.2% (f/c steady at 4.3%). Employment rose 55 ...

China stirring up the trade war angst – ANZ

Analysts at ANZ noted that China announced “anti-dumping” tariffs against US sorghum imports (USD957m worth last year) at a hefty 179%.  Key Quotes: "However, in a bit of give and take, it announced that foreign car makers would have greater freedom to compete in the Chines ...

AUD/USD on the sidelines below 0.7800

Tuesday saw the AUD/USD trapped in a 30-pip range. Wednesday isn't looking much better with little meaningful data on the docket. The AUD/USD has continued to middle this week, and the pair is hanging around 0.7770 in the overnight session. The Aussie has been trapped within Friday' ...

Wall Street bulls push stocks higher amid blockbuster corporate earnings

Goldman Sachs, Netflix, and IBM beat expectations in the first quarter of 2018. The market is focusing on corporate earnings and is putting aside worries over China, Russia, and Syria. The three main US indices shot higher in Tuesday’s trading, along with the US dollar.  US stock ...

NZD/USD: 0.74 achievable before the 10-D SMA gives out?

NZD/USD: taking out the rising 10-D SMA? Where next?  NZD/USD: a fickle dollar and commodities offering support to the bird.  NZD/USD has been tugged and pulled by flows in the greenback making for a fickle display in the DXY.  Various trade headlines have been flowing aroun ...