Mar. 26: Asian session
Asian markets are mostly trading higher on Wednesday on fresh signs of strength in the US economy and decreased concerns over the diplomatic conflict between the West and Russia. US consumer confidence improved in March, climbing to its highest level since 2008. What’s more, the US house prices increased solidly in January. MSCI Asia Pacific index minus Japan added 0.2%, while Nikkei 225 added 0.3%. USD/JPY remains in a consolidative mode around 102.30.
Commodity currencies are on demand today. AUD/USD extends the upside, touching the $0.9200 mark. Aussie is supported by continuing speculation that the Chinese central bank will take action to stimulate its economy. RBA Governor Stevens tried to talk the currency down today by saying Aussie is expected to fall deeper, but didn’t really succeed. NZD/USD strengthened to $0.8595. Gold hovers slightly above the yesterday’s low of $1305.
EUR/USD is trading in the red slightly above $1.3810 after a dip to $1.3750 yesterday. Watch the German consumer climate data at 7:00 GMT. GBP/USD consolidates around $1.6530.