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Asia FX Handover 5th April 2019

Article By: ,  Financial Analyst
April 5, 2019 1:16 AM

  • Saudi Arabia reportedly removing the USD from oil trades if the US go ahead with NOPEC. 
  • On Brexit, Tusk is proposing a 12-month “flexible” agreement for the UK to leave the EU. GBP is slightly stronger, helping to pare yesterday’s losses.  
  • Yields and indices ticked higher as US and China say that trade talks are making progress. US10Y hit resistance ahead of NFP and currently trades around 2.54%. Also note that the Dow broke out of compression and closed above the November highs yesterday. 
  • AUD and GBP are today’s strongest majors, CHF and JPY are the weakest. The USD sits in the middle of the pack, although ranges are typically quiet ahead of today’s NFP report. Commodity futures trade slightly lower, WTI is holding above $62. 

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