April 2: Asian session
Asian stocks rose after an increase in US manufacturing boosted optimism about growth in the world’s biggest economy. MSCI Asia Pacific Index gained 0.5%. Japanese Nikkei 225 rose by 1.3%.
USD/JPY tested 103.93 before returning a bit lower, to 103.75. Commodity currencies are trading under a slight bearish pressure. AUD/USD extends the downside, weakening from $0.9250 to the $0.9220 support. Weaker-than-expected building approvals pulled the Aussie to the session lows. The $0.9300 mark still remains a strong resistance for the pair. NZD/USD fell by 50 pips to $0.8585 after peaking at $0.8700 on Tuesday. Lower prices in milk powder auctions were cited as a potential selling driver. Gold price has slightly recovered from the yesterday’s low of $1277.
EUR/USD is rising and approaching yesterday’s high at $1.3815. GBP/USD edged up to $1.6635.