Forex Today: USD drops further in Asia, PMIs to dominate ahead of Draghi, Yellen

Forex today in Asia saw a few releases of the second-liner data from the OZ economies, which had limited impact on the Antipodeans, as the markets continued to be driven by renewed USD selling across the board. Meanwhile, mixed Asian equities combined with weaker oil prices added to the Yen rebound, keeping the USD/JPY pair on the offers below 113 handle. The EUR/USD pair consolidated the recovery to 1.1780 levels, up +0.17%, while Cable remained well bid near 1.3270 levels.

Main topics in Asia

AUD/USD: sharp spike on dollar weakness, Trump's plans for Fed chair are?

AUD/USD has rallied in the open of the Tokyo session to the highest levels since 27th September. There was little catalyst for the move straight off the vat…

BOJ's Nakaso: Aiming for 2 pct inflation would stabilize FX

Comments from Bank of Japan [BOJ] Deputy Governor Hiroshi Nakaso crossing the wires via Reuters…

Trump Aides: Yellen under consideration, but not recommended by many aides

“Yellen, Cohn, Warsh and Powell are on the list. Also under consideration is Stanford's Taylor”.

World Bank ups 2017 China growth forecast

Washington-based World Bank is out with its latest global growth forecasts, with key focus on the Chinese growth outlook.

Trump: ‘Wave goodbye to Puerto Rico’s debt’

Headlines from the US President Donald Trump are out on the wires now, via Bloomberg, as he spoke on the disaster-hit Puerto Rico late-Tuesday.

White House to request $29 billion for hurricane relief - Reuters News

As per Reuters report, the White House is preparing a $29 billion disaster aid request to send to the U.S. Congress after hurricanes hit Puerto Rico, Texas and Florida.

Key Focus ahead

On Wednesday, a flurry of services PMI reports from the Euro area economies will be reported ahead of the Eurozone retail sales, while the UK services PMI data will emerge the main risk event for the EUR, GBP traders ahead of the US ADP jobs and ISM non-manufacturing PMI reports slated for release in the NA session.

Apart from data, speeches from the major central bankers’ will be closely eyed, with ECB’s Draghi’s speech at the inauguration of the ECB Visitor Centre in Frankfurt due at 16.15 GMT. “At 18:30 GMT, BoE Dep Gov Sam Woods gives a Speech at Mansion House, London. At 19:15 GMT, Fed Chair Yellen is scheduled to speak at the Fed Reserve Bank of St. Louis,” Ivan Delgado, Chief Editor, FXStreet noted.

EUR/USD on its way to 1.1800, key data & central bankers’ speeches eyed

The EUR/USD pair stalled its rebound from seven-week troughs in Asia, as the bulls take breather ahead of an eventful economic calendar today, with the key focus on the US jobs and central bankers’ speeches.

GBP/USD - Yield differential at critical levels ahead of Services PMI numbers

The offered tone around the US dollar strengthened in Asia on Fed leadership talk, pushing the GBP/USD pair to a high of 1.3274.

Preview of key US data coming up - Nomura

Analysts at Nomura offered a preview of today's key data from the US session.

Daily Forex Outlook: What you need to know for Wednesday

Heading into Wed, all key events are scheduled for late in the US session. At 16:15 GMT, ECB’s Draghi speaks at the inauguration of the ECB Visitor Centre in Frankfurt. 

Australia’s retail sales to show the first negative outcome since March - ANZ

Analysts at ANZ offer a sneak peek of what to expect from Thursday’s Australian retail sales report due at 0030 GMT.