US AM Digest: CAD Gains on NAFTA Talks AUD Quiet after RBA

(MENAFN- DailyFX) AUD , NZD: Uneventful RBA meeting yet again with the central bank sticking to its neutral tone and continuing to take a ‘wait and see' approach. AUD found a slight lift with the latest AIG Mfg. PMI jumping to a record 63.1. NZD has also seen a move in sympathy, while eyes will be on today's Fonterra GDT auction, in which futures are pricing in a potential 1% decline in WMP prices.

: Tuesday, April 3, 2018 North American Releases

Very light economic schedule out of the US today with the only real highlights likely to be comments from Fed's Kashkari (Non-Voter) and Brainard (Voter). As such, attention among investors will be placed towards the back-end of the week, whereby participants will digest the latest NFP figures (Exp. 189k), while aside from economic data points, investors will be looking out for any further escalation in regards to trade between China and the US.

: Tuesday, April 03, 2018

IG Client Sentiment Index Chart of the Day: USDJPY

USDJPY: Retail trader data shows 67.2% of traders are net-long with the ratio of traders long to short at 2.05 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 113.533; price has moved 6.4% lower since then. The number of traders net-long is 2.4% lower than yesterday and 3.3% lower from last week, while the number of traders net-short is 0.4% lower than yesterday and 10.4% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USDJPY price trend may soon reverse higher despite the fact traders remain net-long.

Learn more about the

Five Things Traders are Reading

' by Christopher Vecchio, Sr. Currency Strategist ' by Paul Robinson, Market Analyst ' by Martin Essex, MSTA, Analyst and Editor ' by Paul Robinson, Market Analyst ' by John Kicklighter, Chief Currency Strategist The DailyFX US AM Digest is published every day before the US cash equity open - you can to receive this report in your inbox every day.

The DailyFX Asia AM Digest is published every day before the Tokyo cash equity open - you can to receive that report in your inbox every day.

If you're interested in receiving both reports each day, you can .

MENAFN0404201800760000ID1096691867