ForexLive Asia Wrap: USD Strengthens a Little More During the Session

The forex trading headlines for Asia trading today The Fed's Charles Evans and Jeffrey Lacker both gave speeches and answered questions, with comments reported on newswires. there was nothing new in their comments, unsurprising and expected. Glenn Stevens was appointed to an extra three-year term as RBA head Australian February HIA New Private Home Sales came in at a poor reading of -5.3% m/m (vs. +4.2% prior) Australia February Trade Balance Goods & Services much better than expected at -178m (vs. -1000m expected) China March Services PMI improved to 55.6 (vs. 54.5 prior) As did China March HSBC Services PMI, in at 54.3 (vs. 52.1 prior) North Korea banned entry to Kaesong industrial zone UK BRC Shop Price Index +1.4% y/y (vs. +1.07% prior) EUR/USD traded lower during the Asian session. there was no reported news driving the move, just a continuation of the downtrend from the European and and North American session. Bids around 1.2800 were filled in but no further follow through to the downside. GBP/USD, too was sold, down through 1.5100 toward 1.5075, again there was no reported news driving the move. USD/JPY found support around 93.30 in the Tokyo morning, trading to test 93.65/70 resistance before settling around 93.50 for the balance of the day. As a reminder, tomorrow is the conclusion of the two-day BOJ policy meeting, the first with Kuroda at the helm. We expect an announcement of new policy measures sometime after 0300/0330GMT Thursday. AUD/USD had a very narrow range. The new house sales data (see above) came in lower, but the trade balance figures were an improvement on expectations. Chinese services PMIs (both official and HSBC/Markit) came in better.