After several sessions of underperformance,...>

FOREX: After several sessions of underperformance, AUD & NZD broke to fresh

cycle lows vs. USD Thursday, weakening their respective technical pictures &

leaving commodity linked FX at the bottom of the G10 pile. Rallying U.S. yields

depressed energy & metals prices, alongside souring equities in both Europe &

the U.S., which added notable cumulative weight to the Antipodeans. This may be

a welcome sight for Chinese importers when mainland markets return Monday.

- JPY & GBP were comfortably the best performers, with favourable Brexit

headlines helping the latter (UK PM May has reportedly accelerated her Brexit

timeline, meaning a deal could be sewn up as early as Christmas), while

worsening risk sentiment propped up safe haven FX. The slip in USD/JPY during NY

hours followed the printing of fresh cycle highs for the pair, up at ~Y114.55.

- EUR/USD was dragged from its $1.1543 peak as MNI sources reported that the ECB

could be considering a twist-like op, boosting its long-term debt purchases.

- Attention shifts to U.S. NFPs, as well as various ECB & Fed speakers Friday,

with AU retail sales & BOJ Rinban operations providing the notable points of

interest during Asia-Pac hours.