Heading into US session, GBP and CAD recovered some of the losses this week. In particular, GBP is rather immuned from the retail sales miss as that’s primarily due to bad weather. CAD, on the other hand is lifted mildly by oil prices. NZD is trading as the weakest one for today as CPI slowed to 1.1% in Q1, close to RBNZ’s target band. Governor Adrian Orr’s comments that “very benign inflation going forward without doubt” also weigh down the NZD. JPY and USD follow as the second and third weakest for the day.
