Forex Today: Risk-off dominates Asia, UK PMI, US data - Key

Higher-yielding/ risk currencies were dumped amid increased flight to safety, as uncertainty over the US healthcare plan and Trump’s policies dented risk appetite. The Aussie initially tested the trend-line resistance on solid Aus trade data, but fell sharply lower on RBA’s cautious tone, in the wake of rising house prices and AUD strength. Cable also eroded almost 60-pips on the back of aggressive GBP/JPY sell-off, as risk-off gathered steam heading into Europe.

Calendar-wise, the EUR calendar remains relatively light, with the only UK construction PMI release on the cards, while RBA governor Lowe is scheduled to speak at the Reserve Bank Board Dinner, in Melbourne. Moving on, we have the trade figures from both the US and Canada, followed by the US factory orders, ECB President Draghi’s speech and NZ GDT price index. Additionally, speech from the FOMC member Tarullo is also on tap later in the NA session.

Main topics in Asia

Trump signs repeal of Obama-era broadband privacy rules into law – White House

Reuters reports latest headlines from the White House, citing that US President Donald Trump signs repeal of Obama-era broadband privacy rules into law. 

Australia's Feb trade balance sees major beat on expectations

Australia's February trade balance saw a major beat on expectations, coming at $A 3574 mln vs $A1900 mln expected. The Aussie found buyers to be taken towards 0.7610 session highs vs the USD.

BOJ’s Kuroda: ETF purchases are not distorting stock price discovery mechanism

More comments hitting the wires from BOJ Governor Kuroda, as he continues to speak in Parliament.

RBA keeps rates unchanged at 1.5%, maintains neutral stance

As widely expected, the RBA has decided to keep its interest rate unchanged at 1.5%, with the policy statement keeping a neutral bias. 

NZ SOPI: Dairy exports forecast revised higher

New Zealand's Ministry for Primary Industries is out with its latest March edition of the Situation and Outlook for Primary Industries (SOPI), highlighting the following…

Key focus for the day/ week ahead

Euro Receives Reprieve but Watch for Further Falls in the Week Ahead

The Euro had a torrid week after the markets seemingly unwound their hawkish view of the ECB’s policy path.

GBP/USD: Will UK construction PMI rescue the bulls?

The GBP/USD pair witnessed aggressive selling pressure in late-Asia, knocking-off the rate nearly 30-pips from just below 1.25 handle.

House Freedom Caucus Meadows expects to see legislative text on proposed healthcare changes within 24 hours

House Freedom Caucus Chairman Meadows was on the wires earlier today, via Reuters, commenting on the proposed changes to the US healthcare plan.

Key US data for the week ahead - Nomura

Besides the FOMC minutes this week and nonfarm payrolls at the end of the week, we have two key events to monitor on Wednesday as analysts at Nomura noted.