ForexLive Asia-Pacific FX news wrap: Kashkari, Suzuki spoke

• Monetary Authority of Singapore expected to keep policy unchanged at this week’s meeting
• Martin Schlegel, Vice Chairman-Governing Board, Swiss National Bank speaks on Tuesday
• MUFG say they are less bullish on GBP, cut year-end forecast to 1.2950
• European Central Bank policy meeting this week – a ‘cheat sheet’ (where to for EUR/USD?)
• Bank of England Governor Andrew Bailey is making an appearance on Tuesday
• A mixed bag in Australian business survey – confidence a touch better, conditions worse
• RBNZ meet tomorrow: Shadow Board recommends keeping the Official Cash Rate (OCR) at 5.5%
• PBOC sets USD/ CNY central rate at 7.0956 (vs. estimate at 7.2248)
• Australian Monthly Consumer Confidence -2.4% m/m (prior -1.8%)
• Japan finance minister Suzuki says excess FX volatility is undesirable
• Fed’s Kashkari says can’t stop short on inflation fight, its around 3%, need to get to 2%
• UK retail sales spending has jumped to its highest since August 2023
• IMF warn on opaque Private Credit Market – could heighten financial vulnerabilities
• RBC have 3 reasons to stay long energy (stocks)
• New Zealand Q1 Business confidence collapses to -25 (prior -2)
• The ‘Martian alien’ test of US 10 year yields points to the the Fed not done hiking yet
• “Is gold any good as a currency?”
• Forexlive Americas FX news wrap 8 Apr.Yields move higher but USD shifts down marginally.
• Morgan Stanley point to indications of a “no landing outcome” of the US economy
• Major US indices close little changed on the day
• Trade ideas thread – Tuesday, 9 April, insightful charts, technical analysis, ideas

Federal
Reserve Bank of Minneapolis President Neel Kashkari spoke during the
session, at an event at the University of Montana. Kashkari didn’t
add a lot to what we already know on his views on the economy and
policy. He emphasised the need to get inflation back to target, that
oil prices are creeping higher, and that the Bank should not ‘stop
short’ on the inflation fight. He also had some comments on crypto
(he’s not a fan).

If
you scan across major FX charts you’ll note not a lot of impact
from Kashkari, or from much at all.

Data
from New Zealand was not encouraging (business confidence plunged in
Q1) but the NZD went up regardless. Its since retraced to be little
changed. The
‘little changed’ applies pretty much across the major’s board.

Japan’s
Finance
Minister Suzuki said authorities won’t rule out any options in
dealing with excessive yen moves. USD/JPY
didn’t do too much in response and remains just under 152.00.

Oil little changed also:

This article was written by Eamonn Sheridan at www.forexlive.com.