The USD was on the losing end once again last Friday, however managed to close the week at a nearly flat level as the US Dollar index manages to hold a grip on 90 levels. Continuing to dominate the Dollar’s agenda are undoubtedly the US-China trade tensions.
Further vocal threats related to trade measures, between the US and China have continued fuelling concerns of a spiralling trade war.
The actual results out Friday’s Nonfarm payroll numbers from the US certainly did not help the greenback either. The change in private payrolls for March was out at 102k compared to an expected 188k and a previous 320k, the fewest jobs created in the last six months.
The mood during the most recent Asian session was predominantly positive although the major equity indices struggled to show a clear direction. USDJPY so far this morning has mostly verged around the 107 levels with lows and highs only being a few pips away so far.
Today’s economic docket is a fairly quiet one with German trade balance and the EZ sentix confidence being reported later this morning but mostly missing high impact data or events.
