Asia Summary and Highlights 16 Apr
Australian March unemployment rate 4.3%
Trump posts upbeat comments on Israel -Lebanon peace talks
Japan’s Katayama says closely watching FX
Asia Session
The Australian March unemployment rate arrived at 4.3%, with headline employment change missed estimate slightly and 0.1% lower participation rate. It all indicates a solid labor market and should be supportive for the RBA's next hike. Broader risk sentiment is up beat and see major equity indexes, precious metal higher. AUD/USD is trading 0.2% higher at 0.7185. NZD/USD is trading 0.02% while USD/CAD slips 0.16%.
Trump's remark remain upbeat regarding the geopolitical front and see oil consolidating. The Japan FM is jawboning again after suggesting they are in close communication with U.S. Bessent on exchange rate. USD/JPY is trading 0.14% lower at 158.72. Else, EUR/USD is up 0.07% and GBP/USD is up 0.1%.
European and North American sessions
It was a subdued session with a cautious optimism persisting on Middle East peace prospects, with USD/JPY slightly firmer near 159 and EUR/USD slightly firmer near 1.18, seeing EUR/JPY advance to 187.60 from 187.30. EUR/GBP traded a tight range slightly below .87 but EUR/CHF advanced to .9225 after a brief dip below .92. The commodity currencies were firmer, AUD/USD at .7175 from .7140 and USD/CAD at 1.3730 from 1.3770.
April’s Empire State manufacturing survey was resilient, rising to 11.0 from -0.2 but the NAHB homebuilders’ index slipped to 34 from 37. Fed’s Hammack saw rates on hold for some time. Trump said he would seek to fire Powell from the Fed if he did not depart when his term expires while the Fed's Beige Book was similar to the last one, apart from noting higher energy prices and uncertainty..