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Caution Creeps In, Asia Celebrates LNY

FOREX

A sense of caution crept into G10 FX space in holiday-thinned trade, with macro flow subdued owing to a number of market closures across Asia. Crude oil prices softened a tad, applying a modicum of pressure to commodity-tied FX & pushing NOK to the bottom of the pile. AUD slipped as Victoria entered a five-day snap lockdown.

  • GBP traded on a weaker footing amid resurfacing concerns over the ramifications of Brexit and a broader risk-off feel.
  • DXY edged higher as the greenback outperformed its peers from the G10 basket. USD/JPY held a tight range and last trades at Y104.79, with $3.6bn worth of options with strikes at Y104.85-105.00 due to expire at the NY cut.
  • Today's economic docket features flash quarterly GDP report & monthly economic indicators out of the UK, flash U.S. U. of Mich. Survey and Norwegian GDP.
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