MonsunAsia

MonsunAsia Updated 

CAD - BEARISH 1️⃣ Oil prices sank 3% on Tuesday, with WTI crude trading below $60 a barrel and Brent about $62.7 a barrel amid escalating worries that the third wave of COVID-19 cases in some countries in Europe and slow vaccine rollouts in the continent will hurt a recovery in fuel demand. CHF - BULLISH 1️⃣ Concerns about a surge in COVID-19 cases and vaccine...

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EUR - BEARISH 1️⃣ In order to curb the recent surge in cases, Germany will implement a strict five-day lockdown around Easter and expand its wider measures through April 18. Concerns about the virus's comeback are spreading across the European Union. 2️⃣ Sluggish growth for the eurozone in 2021 as governments grapple with rising coronavirus cases and a slow...

MonsunAsia Updated 

NZD - BEARISH 1️⃣ Investors monitored a sustained surge in long term bond yields locally and abroad. Local 10-year bond yields eased from 22-month highs to 1.761% while the US 10-year rate retraced 14-month highs to 1.679%. 2️⃣ The Westpac-McDermott Miller consumer confidence index edged down 0.8% to 105.2 in the three months to early March, leaving it little...

MonsunAsia Updated 

CAD - BEARISH 1️⃣ Lower oil prices weighing on the CAD. JPY - BULLISH 1️⃣ The BoJ explicitly said Friday it will allow long-term interest rates to fluctuate in a wider band. The bank also removed a 6 trillion yen ($55 billion) annual target for buying exchange-traded funds while maintaining a ceiling of 12 trillion yen in a move designed to allow yields to...

MonsunAsia Updated 

AUD - BULLISH 1️⃣ Australian employment grew by 88,700 to a one-year high of 13,006,900 in February, easily beating market estimates of an increase of 30,000; while the jobless rate fell to 5.8%, the lowest in 11 months. 2️⃣ Australian retail sales for February are expected to jump as sales components rose. USD - BEARISH 1️⃣ The Federal Reserve pledged to keep...

MonsunAsia Updated 

CAD - BULLISH 1️⃣ Upbeat labour market data, which supported expectations that the Bank of Canada would reduce quantitative easing purchases next month. 2️⃣ The unemployment rate fell to 8.2%, the lowest rate in 11 months and the economy created 259K jobs, considerably higher than market expectations of 75K jobs. CHF - BEARISH 1️⃣ Expectations of a robust...

MonsunAsia Updated 

CAD - BULLISH 1️⃣ Upbeat labour market data, which supported expectations that the Bank of Canada would reduce quantitative easing purchases next month. 2️⃣ The unemployment rate fell to 8.2%, the lowest rate in 11 months and the economy created 259K jobs, considerably higher than market expectations of 75K jobs. JPY - BEARISH 1️⃣ Rising US Treasury yields...

MonsunAsia Updated 

NZD - BEARISH 1️⃣ Investors moved into the Greenback ahead of US Federal Reserve's policy meeting amid speculation that it could start rate hikes earlier or let bond yields rise further. 2️⃣ The Global Dairy Trade Index eased 3.8% - the first fall in four months compared to a 15% rise at the last auction. 3️⃣ Risk-off tone pressured the NZD. CHF - BULLISH 1️⃣...

MonsunAsia Updated 

EUR - BEARISH 1️⃣ Investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. 2️⃣ Several EU member states have halted their rollouts of the Oxford-AstraZeneca jab in recent days following reports of blood coagulation disorders in recipients. 3️⃣ Last week, the European Central Bank left monetary...

MonsunAsia Updated 

NZD - BEARISH 1️⃣ New Zealand Local 10-year bond yields fell from 22-month highs to 1.771%, while US 10-year rates eased slightly from 13-month highs to 1.595%. CHF - BULLISH 1️⃣ Slow vaccination in Europe could trigger the safe-haven flows. ===== Technical ===== We are looking to sell the NZDCHF at SBR + below SMA 50 on the H1 chart. ===== Risk to this...

MonsunAsia Updated 

AUD - BEARISH 1️⃣ Australian local 10-year bond yields fell from 22-month highs to 1.771% after the news, while US 10-year rates eased slightly from 13-month highs to 1.595%. JPY - BULLISH 1️⃣ Ahead of the BoJ’s Monetary Policy Statement on Friday, some investors predict that policymakers may phase out a numerical target for its risky asset buying, highlighting...

MonsunAsia Updated 

EUR - BEARISH 1️⃣ Investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. 2️⃣ Several EU member states have halted their rollouts of the Oxford-AstraZeneca jab in recent days following reports of blood coagulation disorders in recipients. 3️⃣ Last week, the European Central Bank left monetary...

MonsunAsia Updated 

GBP - BULLISH 1️⃣ Investors hope for a quicker economic recovery in the UK due to the continued success of the vaccination rollout programme coupled with massive fiscal and monetary stimulus packages. JPY - BEARISH 1️⃣ The recent passage of a massive US stimulus package boosted sentiment 2️⃣ Positive risk tone weighing on the safe-haven...

MonsunAsia Updated 

AUD - BULLISH 1️⃣ Strong data from the Chinese economy boosted sentiment as retail sales and industrial production figures for February surpassed estimates and rose 33.8% and 35.1%, respectively. 2️⃣ New home sales jumped 22.9% mom in February, according to the HIA, reversing from a 69.4% surge in January. CHF - BEARISH 1️⃣ Stronger-than-expected US jobs data and...

MonsunAsia Updated 

EUR - BEARISH 1️⃣ A number of ECB officials suggested the bloc's monetary authority stands ready to provide more stimulus if needed to keep yields down and support the economy. 2️⃣ Investors continue to monitor the slow pace of COVID-19 vaccination in the EU and its impact on Europe's economic recovery. AUD - BULLISH 1️⃣ Strong risk sentiment boosted the Aussie...

MonsunAsia Updated 

CAD - BULLISH 1️⃣ The Bank of Canada kept the interest rate unchanged at 0.25%. Additionally, the central bank forecasts positive GDP growth in the first quarter of 2021 as the economy is proving to be more resilient than anticipated to the second wave of the virus and the associated containment measures. 2️⃣ Oil prices, one of Canada’s major exports, steadied...

MonsunAsia Updated 

NZD - BULLISH 1️⃣ Optimism for a strong post-pandemic recovery boosted riskier assests after the US Congress approved President Biden's $1.9 trillion coronavirus relief package. 2️⃣ Risk sentiment was also lifted amid hopes for a trans-Tasman travel after the Australian government announced a billion-dollar support package for airlines which includes subsidized...

MonsunAsia Updated 

AUD - BULLISH 1️⃣ Strong risk sentiment boosted the Aussie from 5-week lows after the US Congress approved President Biden's $1.9 trillion coronavirus relief package. 2️⃣ Reserve Bank of Australia governor Philip Lowe rejected market expectations of an early increase in interest rates, insisting it will not lift its record-low cash rate of 0.1% until the jobless...