Asian Session Forex Recap – Apr. 16, 2015

  • Australia’s March employment change stronger than expected at 37.7K vs. 14.9K forecast
  • Australia’s Feb employment change figure upgraded from 15.6K to 42.0K
  • Australian unemployment rate down to 6.1%
  • MI inflation expectations climbed from 3.2% to 3.4% in Australia
  • Nikkei up by 0.08% for the day
  • Swiss PPI up for release

Surf’s up for the Aussie! Thanks to strong jobs data, the Australian dollar managed to advance against its forex counterparts in the past few hours. For the month of March, hiring picked up by 37.7K and drove the jobless rate down to 6.1%. On top of that, the February reading was upgraded to show a 42K rise in employment from the initially reported 15.6K gain.

AUD/USD is enjoying a nice 65-pip lead (+0.84%), AUD/JPY is up by nearly a hundred pips (+1.04%), and EUR/AUD is down 122 pips (-0.88%). The improvement in Australia’s MI inflation expectations from 3.2% to 3.4% also gave the currency an extra boost.

Unlike the confetti-filled fiasco during the ECB press conference yesterday, forex price action among the rest of the dollar pairs lacked excitement in today’s Asian session. EUR/USD is down 15 pips (-0.12%), GBP/USD is lower by 20 pips (-0.15%), and USD/JPY is up 12 pips (0.11%). Risk appetite seems to have picked up in the past few hours, with Asian equities edging slightly higher and the Nikkei chalking up a 0.08% gain.

Up ahead, the forex calendar shows that the coast is clear in terms of top-tier economic releases. Only the Swiss PPI report is lined up at 8:15 am GMT and it might show a 0.1% rebound in producer prices for March. Stronger than expected data could allow the franc to carry on with its climb against its rivals while weak figures could hint at lower consumer price pressures down the line. As always, keep your eyes and ears peeled for any market updates that could affect risk sentiment!

U.S. Session Recap

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