Europe Summary and Highlights 30 April
The USD was generally stronger through the European morning, gaining around 15 pips against the EUR to 1.1365 and half a figure on USD/JPY, which traded up above 143.
European morning session
The USD was generally stronger through the European morning, gaining around 15 pips against the EUR to 1.1365 and half a figure on USD/JPY, which traded up above 143. The EUR gained some ground on the crosses, helped by stronger than expected Eurozone Q1 GDP data, which rose 0.4% q/q against a market consensus of a 0.2% gain. Other data included provisional French, Italian and German state CPI data, all of which was broadly in line with consensus, showing a small decline in the y/y rate in April. German retail sales numbers for March were also close to consensus, showing a broadly flat trend.
Asian session
The Q1 Australian headline inflation stayed at 2.4% with trimmed mean dropped past 3% to 2.9% y/y. While headline is a tad higher than estimate, trimmed mean has tread lower within the target range. However, it is not sufficient to indicate an imminent cut from the RBA as they have their eyes on the mid range. AUD/USD is trading 0.44% higher at 0.6412, NZD/USD is also trading 0.08% higher at 0.5934 while USD/CAD is unchanged.
There has been little headlines from the tariff man on Wednesday with global equity indexes performing individually. There are also little movement in the U.S. and JGB yields while USD trading individually against majors. USD/JPY is trading 0.12% higher at 142.47. Else, EUR/USD is down 0.12% and GBP/USD is down 0.14%.