Forex today was a mixed bag in Asia, as most majors failed to react to the recovery in risk-sentiment following yesterday’s global market rout. The Asian stock markets rebounded alongside the recovery in oil prices and Treasury yields while the popularity of the greenback somewhat faded.

Despite broad-based US dollar softness and risk-recovery, the Antipodeans failed to benefit, with the Kiwi emerging the biggest loser, as the bulls shrugged-off a big beat on the NZ employment data amid repositioning ahead of the RBNZ interest rate decision due later today. Meanwhile, the Yen picked-up strength across the board after the Nikkei 225 index pared gains towards the closing hours.

Key Focus ahead

In the session ahead, the second-liner releases in the German industrial output figures and UK Halifax HPI data will keep the traders busy ahead of the ECB’s non-monetary policy meeting, in which the Brexit issue will remain on top of the agenda. The NA session also remains data-light, with the Canadian building permits numbers to be released ahead of the US EIA crude inventories report and FOMC member Dudley’s speech.

Source: https://www.fxstreet.com/news/forex-today-kiwi-dumped-despite-solid-nz-jobs-focus-shifts-to-rbnz-201802070538