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Australia AiG Performance of Services Index decreases to 44.1 in Apr from 49.6

Forex: USD/JPY shrugs off early weakness, finishes sharply higher

The USD/JPY finished the day sharply higher, up 63 pips at 97.90. Initially the pair had traded lower during the Asia session, but support at 97.00 held firm and the pair shot higher (at point as high as 98.40) after the ECB Press Conference. Economic data will be quiet this evening as Japan is closed for holiday. However, expect volatility to pick up during the US Session when the US Unemployment Data is released at 12:30GMT.
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Forex: AUD/USD awaits Aus PPI Q1 below 1.0260

AUD/USD is currently at 1.0256 bids, pressing against session highs at 1.0260 following the AIG Services index for Australia that showed the worst result in last 4 months at 44.1, easing from previous at 49.6. With China and Japan both closed today again this week, domestic ASX index futures are at break even for the day.
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