Australia’s Feb CoreLogic house price jumped to 1.4% from previous month’s +0.7%. Sydney prices jumped 2.6% to 18.4%, fastest annual growth in more than 14 years. But like the Kiwi, AudUsd did nothing. Then a dismal pop of 20 pips after a better than expected Q4 GDP. What did move was the AudNzd cross, up from 1.0663 to 1.0698. Chinese Feb Manufacturing PMI and Caixin number gave Aussie slight boost, took AudNzd to 1.0720. Again, challenged the offers in the 0.7690’s following Trump’s address. Stops in GbpAud caused AudUsd to print 0.7700. Heard nothing on top side but only buy orders reported in the 0.7610-20.
Yields of 10-year UST up 3 basis points on the Tokyo open, momentum funds were seen chewing away offers surrounding 113.00, before advancing to 113.19. UsdJpy continued to edge higher, entered Ichimoku Cloud 113.21. Profit taking ahead of Trump, UsdJpy back to 113-teens. Then excepts published, UsdJpy moved to 112.98; yields pared gains. Heard short term stops below 112.75 and above 113.85. FWIW, decent option transacted last 24 hours concentrating 113.00 strike.
GbpUsd traded down to 1.2363 following trigger of stop sell orders near 1.2370. Once the interests were gone, GbpUsd bounced back. Usd sold on back of excepts, Gbp returned to 1.2390. EurUsd encountered bids in platform from under 1.0560. Touched 1.05555 and bounced.