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BBDXY A Touch Firmer Post European & UK PMIs, Antipodeans Outperform

FOREX

The BBDXY sits a little higher on the day, although a French PMI-driven move to session bests failed to test yesterday’s multi-month peak in the index, as the German and Eurozone PMI readings provided some counter.

  • USD is mid-pack in G10 FX.
  • EUR/USD only managed a shallow look through yesterday’s multi-month low on the French data, before rebounding, although bulls have failed to retake pre-data levels.
  • GBP/USD is threatening to break yesterday’s worst levels, with a softer-then-expected UK services PMI, pointing to increased recession worry and continued loosening in the labour market.
  • JPY was pressured as BoJ Governor Ueda stuck to a dovish script in his post-meeting address, although USD/JPY has failed to test yesterday’s high as of yet, backing away from best levels in recent trade.
  • The Antipodeans outperform G10 FX peers, probably looking to firmer Chinese equities as a source of support.
  • U.S. flash PMIs, Canadian retail sales, comments from ECB’s de Guindos and the first round of post-FOMC Fedspeak (Cook, Cook, Collins, Daly & Kashkari) are slated ahead of the weekend.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
Energy BulletsCommodities

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