ForexLive Asia FX news: AUD higher after data beat (retail sales)

Forex and Bitcoin news for Asia trading Wednesday 4 April  2018


The Australian dollar was a big gainer on the session (big is a relative term in Asia forex trade). It traded steady into the local data releases and then gained, adding on 30-odd points at its high just over 0.7715 . The data releases of note for AUD were Australian building approvals (a miss), which took a back seat to the more important retail sales release (a solid beat indeed) and China PMIs (the lesser focus services and composite).

Prior to these, though market focus was on headlines re US tariffs on China imports and Chinese responses. There were loads of news items but the most important was this I highlighted:

And, in that post you will find links to all the other trade-related posts if you wish to follow the story in more detail.

We also got hawkish comments from Federal Reserve Board of Governors Lael Brainard:

Currency movement was limited, AUD (as noted already) traded better on the session, as did the kiwi and CAd (against the USD).

EUR/USD and USD/CHF were both less active with smaller ranges, while USD/JPY is net a little bit down on the session in a small range.

Cable popped higher, though – but with no specific news seemingly having much importance for it.   

Still to come:

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