Online Forex Trading News

ASIA SUMMARY

Asia saw continued low volatility as volume in global markets ticked lower for the holiday week. We did some stop running as EUR/JPY broke through the NY highs and then backed off.

Australia released February trade balance figures which came in at -838 million vs. expectations of -1.1 billion. We saw AUD/USD briefly trade a touch higher but most of the focus on AUD remains on tomorrow’s RBA rate announcement. After yesterday’s better than expected retail sales numbers, expectations have increased for a rate increase.

We also heard rhetoric over the upcoming G7 meeting. The Canadian Finance Minister said earlier that the yen will be discussed but Japanese Finance Minister Omi says he has no comment on what the G7 meeting will discuss the yen.

In London we have:

Switzerland: (1:45am EST) Month over month CPI expected .1% vs. previous .2%.

EC: (4am EST) ECB’s Liebscher speaks in Vienna.

UK: (4:30am EST) PMI Construction expected 57.3 vs. previous 57.3.