Europe Summary and Highlights 17 April
The USD was generally slightly weaker through the European morning.
European morning session
The USD was generally slightly weaker through the European morning. EUR/USD gained 20 pips to 1.1375, and there were similar gains for GBP and AUD. The scandis outperformed, with EUR/SEK falling 8 figures to 11.06 and EUR/NOK falling 4 figures to 11.98. The JPY, CHF and CAD were little changed against the USD.
There was little news of note. German PPI data was somewhat weaker than expected, falling 0.7% m/m in March. The BoE credit conditions survey suggested improving mortgage availability in the next 3 months, but unchanged demand.
Asia session
The risk mood seems to be more calm by the opening bell on Thursday. Japan PM Ishiba says talks with the US were constructive, which obviously does not give any exact detail or expectation of a fast track trade deal, still seems to be better than a harsh remark. USD/JPY is trading 0.48% higher at 142.52 while both the U.S. Treasury and JGB yields rise.
The Australian March labor data has recovered from February's dip. The headline employment change also grow by 32.2k with an almost equal split between full time and part time with unemployment and participation rate unchanged. Nevertheless, AUD/USD fell as USD is trading broadly stronger and dipped 0.39% to 0.6347, NZD/USD is also down 0.35% to 0.5914 while USD/CAD rose 0.21%. Else, EUR/USD is down 0.28% and GBP/USD is down 0.15%.