Wednesday, October 17, 2018

FX Today: Aussie cheers upbeat Australian jobs, ignores CNY drop, focus on UK retail sales

The risk-off sentiment seeped back into Asia this Thursday after the US Treasury listed China on the watch list of currency manipulators, sending the Chinese Yuan to yearly against the US dollar alongside a sell-off in the Chinese equities.

Meanwhile, the US dollar consolidated the overnight gains on hawkish Fed minutes, keeping most majors under pressure. However, the Aussie bucked the trend and rallied above 0.71 handle following a sharp drop in the Australian jobless rate that outweighed the drop in the Aussie business conditions and confidence data. The USD/JPY´s upside was capped by risk-aversion, despite slowing Japanese exports doing little to negatively impact the Yen. The Kiwi traded better bid, finding some support from the rally in the Aussie and oil-price recovery.

No comments:

Post a Comment