Free Trial

Dollar Slightly Lower, AU CPI & BoJ Speak Coming Up

FOREX

The USD is closed to unchanged through the start of Wednesday trade. The BBDXY index was last near 1244, slightly down from end Tuesday levels, but remaining well within recent ranges.

  • The index remains not too far off Tuesday highs. In the cross asset space we have US equity futures around 0.20% higher at this stage, following cash losses in Tuesday US trade. US yields are relatively steady in early trade.
  • USD/JPY was last near 151.50, not far off Tuesday highs. BoJ Governor Ueda is appearing in parliament at 10:47am local time. We also have a speech from hawkish board member Tamura this morning (10am local time).
  • NZD/USD is holding just above 0.6000, little changed for the session. Headlines from the NZ budget are crossing, but aren't impacting FX sentiment so far. The return to budget surplus has been pushed out to 2028, but this is not a given. NZ Treasury has revised lower the growth outlook, while scope for RBNZ cuts is evident later this year.
  • AUD/USD is last near 0.6535, a touch above end Tuesday levels in NY. In a little while, February CPI is released and expected to rise slightly to 3.5% y/y but forecasts range from 3.3% to 3.8%.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.