Broad-based US dollar recovery was the main underlying theme that triggered a fresh selling-wave across the fx board in Asia this Thursday. The rebound in the greenback was mainly driven by a recovery in Treasury yields across the curve while the extension of the corrective slide in GBP/USD from the 2019 tops also added to the uptick in the buck. Markets resorted to profit taking on the GBP longs heading into the vote on Article 50 extension later today. The Euro tracked the correction in the Cable and marched towards the 1.13 handle. Among the Asia-pac currencies, the Aussie was the biggest loser and headed for a test of the 0.7050 support following mixed Chinese data dump, followed by the Yen and the NZD. The USD/JPY pair clinched for-day tops at 111.61 on reports of Japanese growth downgrade while the Kiwi returned below 0.6850 levels. On the related markets front, the Asian equities traded mixed, led by the declines in the Chinese stocks while both crude benchmarks traded modestly flat, with WTI having eased-off multi-months near 58.50 levels. Gold futures on Comex slipped and edged back towards the 1300 levels. Main Topics in Asia US Pres. Trump: In no rush to complete China trade deal – Reuters Gold Technical Analysis: Rejected at 4H 200MA, hourly RSI diverges in favor of bears Japanese Govt considering a slight downgrade in its monthly report for March – Nikkei UK Press: PM May is preparing a third meaningful vote on Brexit on March 20 China Jan-Feb data dump: Retail sales rise 8.2%, industrial output drop 5.3% China NBS: China’s economic growth in Jan-Feb within reasonable range Tapering? BOJ’s ETF purchases hits lowest since 2016 Sources: US aims to cut Iran oil exports to under 1 million bpd from May – Reuters Ex-National Economic Council Head Cohn: US desperate to sign trade deal with China Key Focus Ahead Markets remain focused on the Brexit-related developments amid a no deal Brexit rejected by the UK lawmakers and the Brexit extension of 2 months seeming the most likely bet, as rumor mills talk of the third meaningful vote on the UK PM May’s Brexit deal next week. Meanwhile, the EUR calendar remains a thin-showing, with the German final CPI release dropping in at 0700 GMT, following the Swiss producers and import prices at 0730 GMT. In the NA session, the US weekly jobless claims, import prices and the Canadian new housing price index are due at 1230 GMT. At 1400 GMT, the US new home sales data will be eyed for fresh dollar trades. In the American afternoon, at 1900 GMT, the UK parliamentary vote on Article 50 extension is scheduled while New Zealand’s business PMI and visitors arrivals data will be published at 2130 GMT and 2145 GMT respectively. EUR/USD has reversed last week’s post-ECB sell-off, whats next? EUR/USD’s drop to 21-month lows below 1.12 has been reversed, but the relief could be short-lived, as the US 10-year treasury yield has bounced up from three-month lows seen earlier this week. GBP/USD revisits sub-1.3300 area as UK MPs eye deadline extension Investors may concentrate on how the UK members of parliament (MPs) can agree over delaying Article 50 deadline today. On the data front, initial jobless claims for the week ending on March 04 and January month new home sales are on cards. GBP Soars 2% on Brexit Vote, 1.35 Next? Having had years to reach an agreement, expectations for a 2 month extension are low but if May puts in the request and the EU accepts it (and there’s no reason for them not to), GBPUSD could extend its rally to 1.35. WTI Technical Analysis: Ichimoku Cloud is bullish, double tops broken, eyes on $60.00bbls The price is now testing the territory on the 58 handle, breaking the double-top highs. Bulls look to higher grounds while holding above the $57.93bbls and the horizontal prior resistance line going back to mid-Nov 2018. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Dollar Index testing highs near 96.70 ahead of data FX Street 4 years Broad-based US dollar recovery was the main underlying theme that triggered a fresh selling-wave across the fx board in Asia this Thursday. The rebound in the greenback was mainly driven by a recovery in Treasury yields across the curve while the extension of the corrective slide in GBP/USD from the 2019 tops also added to the uptick in the buck. Markets resorted to profit taking on the GBP longs heading into the vote on Article 50 extension later today. The Euro tracked the correction in the Cable and marched towards the 1.13 handle. Among the Asia-pac currencies, the Aussie was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.