Forex Today: AUD dumped on RBA minutes, eyes on EUR ahead of French elections

Volatility returned to Asia along with full markets, as the Easter-break finally ended. Also, risk-off seeped back in Asia, following a cautious tone seen in the RBA minutes and a drop in the Chinese house prices. Amidst a renewed risk-off wave, the Asian stocks retreated, so as the treasury yields, while commodities’ prices remained heavily sold-off.

Heading into Europe, holiday-mode trading is expected to wane, as the EUR traders now brace for the first round of the French elections scheduled this Sunday, in order to gauge next direction for EUR/USD. Meanwhile, amid a data-quiet EUR calendar, attention turns towards the US economic releases, including the housing starts, building permits and industrial production. Also, on the cards we have the NZ GDT price index and BOC governing council member Wilkins’ speech.

Main topics in Asia

RBA minutes: Labour market somewhat weaker than expected

The minutes of the latest RBA meeting when interest rates were held unchanged at 1.5% have been released, noting that the labour market is somewhat weaker than expected, keeping wage growth low.

Asian stocks trade mixed with slight weakness in Safe havens

Stock markets across Asia are trading mixed this Tuesday morning, despite a slight weakness in the classic safe haven assets amid signs of easing South Korea tensions.

Fed's Fischer: Reducing balance sheet is "in effect" tightening monetary policy

Fed's Vice Chairman Stanley Fischer is hitting the wires, via Reuters, noting that reducing balance sheet is 'in effect' tightening monetary policy.

Aus PM Turnbull abolishes the 457 visa, says ‘We're putting Australian's first’

Australia’s PM Turnbull is out on the wires now, via Reuters, making an announcement on the abolition of the 457 visa.

Key Focus ahead

Key US data coming up for the day ahead - Nomura

Analysts at Nomura offered their preview on today's US data for the US session ahead.

GBP/USD: Bulls struggle with 1.2575, risk-off back in vogue?

The rebound in GBP/USD from 1.2550 levels lost legs near 1.2575 region, knocking-off the rate slightly lower, as risk-off sentiment seeps back into markets. Investors gear up for a fresh batch of US economic data slated for release in the NA session amid full markets.