Asia-Pacific focus was on the Chinese GDP: (Q1) Y/Y 7.4% vs. Exp. 7.3% (Prev. 7.7%), which supported gains in equity markets overnight. </p>
NZD/USD traded lower following softer than expected CPI Y/Y for Q1 of 1.5% vs. Exp. 1.7% (Prev. 1.6%), potentially sparking speculation the RBNZ may not have to hike rates as aggressively as previously thought. USD/JPY has moved back above 102.00 handle amid comments from BoJ governor Kuroda that the BoJ’s easing is having its intended effect. The US Treasury reiterated their views that China remain a foreign exchange manipulator by weakening the CNY in their semi-annual report.
NZD/USD traded lower following softer than expected CPI Y/Y for Q1 of 1.5% vs. Exp. 1.7% (Prev. 1.6%), potentially sparking speculation the RBNZ may not have to hike rates as aggressively as previously thought. USD/JPY has moved back above 102.00 handle amid comments from BoJ governor Kuroda that the BoJ’s easing is having its intended effect. The US Treasury reiterated their views that China remain a foreign exchange manipulator by weakening the CNY in their semi-annual report.
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