Forex Today: AUD cheers solid China trade, UK IP, Trump-Abe Summit eyed

The Aussie emerged the top performer in Asia on the final trading of the week, boosted by upbeat longer-run outlook published in the RBA’s Statement of Monetary Policy (SoMP)         and stronger-than expected Chinese trade figures. While the USD bulls took a breather from Trump tax cut chatter-driven broad based rally.

Next on tap for the markets remain the UK macro releases, viz., goods trade balance, industrial and manufacturing production data. While the NA session offers the Canadian labour market report, US import prices and consumer sentiment data. Besides, the US President Trump and Japan PM Abe’s meeting in Washington will hog the limelight later today. The agenda for meeting is expected to be on the discussion related to trade, defense and jobs.

Main topics in Asia

More on the US Appeals Court upholds suspension of Trump travel ban

Reuters is out with some more content on the earlier reports of the US Appeals Court upholds suspension of Trump travel ban.

China’s Jan trade data (USD terms): A huge beat across all indicators

Following the release of China’s trade balance for January, in yuan terms, the China customs published the data in USD terms, showing that the country’s trade surplus, exports as well imports came in much stronger-than expected.

AUD/USD extends the break beyond 5-DMA on solid China trade

The AUD/USD pair extended its break higher from the overnight consolidation phase, and is now seen flirting with the midpoint of 0.76 handle, after the bulls accelerated control on better-than expected Chinese trade data release.

Trump backs One China policy in first call with Xi – FT

The Financial Times (FT) quotes sources familiar with the US President Trump’s call with the Chinese President Xi Jinping, Trump’s first call the Chinese leader since entering the Oval Office.

Key focus for the week ahead                                                  

UK Industrial and manufacturing production in spotlight - TDS

Analysts at TDS provide a brief preview of the key events due on the cards from the UK docket later today.

US: Key Events ahead - Nomura

Analysts at Nomura take us through a slew of economic events from the US docket lined up for release later in the NA session today.

Asia-pac week ahead - TDS

Analysts at TDS enlist main events from the Asia-pac regions that will take centerstage next week.

USD/JPY surges to weekly high, focus remains on Trump-Abe meeting

Investors on Friday will remain focused on Japanese Prime Minister Shinzo Abe’s meeting with the US President Donald Trump.