Aussie got hurt by China
EUR/USD keeps trading on the downside. The pair failed to hold above resistance at 1.0600 and lowered to 1.0555. The euro is affected by the decline in the euro area’s bond yields. There are also concerns about Greece and its ability to prepare reform plans which will satisfy its creditors. USD/JPY rose to 120.75.
GBP/USD slid to 5-year minimum at 1.4565. Pound is under pressure after weak industrial production figures released last week and because of the uncertainty ahead of an election in Britain in May.
AUD/USD slid below 0.7570 as China, Australia’s main trade partner, released extremely weak trade balance figures. Chinese trade surplus narrowed from 60.6B to 3.1B yuan. The nation’s export sales fell by 15%, while economists expected a 12% increase. China’s import shipments also showed the biggest decline since 2009.