May 8: Asian session
Asian stock markets rose on Thursday, supported by the Fed’s Yellen dovish comments and upbeat Chinese trade data that suggest some signs of stabilization economy. China trade surplus increased from 7.7B to 18.5B in April. There are signs of tensions in Ukraine easing: Russian President Vladimir Putin called on pro-Moscow separatists to postpone a secession vote.
AUD/USD strengthened to $0.9375, supported by the upbeat Australia labor market data and a better-than-expected China trade balance. The number of people employed in Australia rose by 14.2K in April (forecast: 7.5K), while the jobless rate held unchanged at 5.8% (forecast: 5.9%). NZD/USD consolidates 30 pips above the session low of $0.8640 following the yesterday’s sharp selloff. USD/JPY faced resistance at the 102 figure and retraced to 101.70.
EUR/USD and GBP/USD consolidate slightly below the recent highs, waiting for the ECB and BoE policy meetings.