Foreign exchange market today was lacking data from both the European and US sessions. The market seemed less volatile as traders await the outcome of the European Central Bank interest rate decision tonight. Meanwhile, rising US Treasury yields are driving the US Dollar higher across the broader FX market.
The Aussie is catching a slight boost from their Import/Export Price Indexes, which printed an upside surprise for both figures. Their Import Price Index came out at 2.1% while Export Price Index was 4.9%.
The Australian dollar has little meaningful data left on the macro calendar for the week….. but tomorrow we have the New Zealand Trade Balance for the month of March…. and it is expected to be lower than the last recorded.