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CORRECTION: USD/JPY Pressured On Thursday

FOREX

USD/JPY is marginally pressured in early Asian trading today as US Yields tick lower in early Asian Trade.

  • USD/JPY is lower, dealing at ¥136.95/137.05. The final read of Q4 GDP figures were weaker than expected with QoQ growth of 0.1% vs 0.8% exp.
  • AUD is a touch firmer, up ~0.1%. However AUD/USD has observed narrow ranges and there hasn't been much follow through on moves this morning.
  • NZD/USD prints at $0.6110/15, also ~0.1% firmer. Card Spending in NZ fell 1.7% m/m in February after the Jan print was revised upwards to 3.4%. Levels of spending remain historically high and well above pre-pandemic levels.
  • Marginal greenback weakness has been seen elsewhere, EUR GBP and CHF are all ~0.1% firmer.
  • Cross asset flows are mixed, US Equity futures are ~0.1% softer and US 10 Year Treasury Yields are ~2bps lower. BBDXY is ~0.1% lower.
  • CPI and PPI data from China, which crosses in just over one hour headlines in Asia-Pac today. Further out we have Challenger Job Cuts and Initial Jobless Claims.
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