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Forex news for Asia trading Tuesday 19 March 2019

USD/JPY dripped lower during the session here as I update without much in the way of headline catalysts. The Nikkie was heavy, and cited also were stop losses hit for longs (ie. resulting in selling) but apart from that, not much. There was some chatter of a weaker USD going into the FOMC (UST 10 year yield dropped here, so there is something in this), based on expectations of a dovish Fed. None of these are overtly incorrect, they all sound reasonable, but I can’t say I am too convinced on any of these in terms of making an ongoing impact. Soon find out though!

The Brexit headlines did not add much to what had already hit during UK/US sessions. GBP has moved a little higher.

EUR/USD, too, small up for the session.

NZ Q1 consumer confidence data came out early in the session, a dip for this after the solid bounce back in Q4. The impact was muted (its never normally much upon release though) but NZD/USD did lose a few tices in following hours, only to bounce back for a fresh session high as I update.  

RBA March meeting minutes had a stale air about them, Governor Lowe had spoken extensively since the meeting, noting the importance of data now on a neutral sort of RBA. Especially jobs data (ps the latest labour market report from Australia is due this week, preview below). I will highlight this post, though … if the RBA are going to cut they’d like transmission to be unfettered:

AUD/USD is barely changed for the day, up a few tics not only.

RBA Gov. Lowe

Still to come:



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