Market Roundup
- Japan Feb leading indicator index -0.2 points from Jan.
- Japan Feb coincident indicator index -2.8 points from Jan.
Economic Data Ahead
- (0945 EDT/1345 GMT) US Markit Services PMI, previous 58.6
- (0945 EDT/1345 GMT) US Markit Composite PMI, previous 58.5
- (1000 EDT/1400 GMT) US ISM Non-Manufacturing PMI, previous 56.9, consensus 56.5
Key Events Ahead
- (0830 EDT/1230 GMT) Fed's William Dudley speech
FX Recap
USD/JPY partially trimmed its losses in the Asian session and is trading at 119.05 levels, recovering from the low of 118.71 touched on Friday. It faces immediate resistance at 119.21 levels and a break above would see the pair testing 119.42 levels. On the downside, support is seen at 119 levels and further below at 118.69 levels.
AUD/USD started the week on a weaker note in a somewhat muted Asian trading. Markets await RBA policy decision scheduled for tomorrow. The pair trades at 0.7625 levels, retreating from the highs of 0.7692 levels seen on Friday. Due to the lack of major economic releases today, it likely to remain subdued today. Resistance is located at 0.7647 levels, above which it could extend its gains to 0.7692 levels. On the other hand, it is likely to find support at 0.7600 levels and then at 0.7560 levels.
NZD/USD continued its uptrend on Monday and currently trades at 0.7594 levels. Not much action is expected from the pair today as New Zealand markets are closed due to extended Easter holiday. It sees immediate resistance at 0.7595 levels and then at 0.7623 levels. On the downside, it is expected to find support at 0.7517 levels, and a break below could extend its losses to 0.7468 levels.
EUR/USD rallied on Friday following weaker-than-expected US NFP report and hit a high of 1.1025 levels. However, the upward momentum seems to be losing ground on Monday as the pair now trades in the red at 1.0984 levels. On the topside, resistance is located at 1.10 levels, and a break above could push the pair to 1.11 levels. On the flipside, it is likely to find support at 1.0706 levels and then at 1.0468 levels.
