AUD: Down Nearly 0.50%, Few Cross Asset Drivers, But Consistent With Weekly Drop

The A$ is the weakest performer in the G10 space in Friday trading to date (off 0.45%). We were last at 0.6420/25, just up from session lows (0.6420). This week's lows rest at 0.6399 as a potential downside target in the near term. 

• FX markets are trading with a slight risk off tone, with only yen marginally higher against the USD at this stage. AUD/JPY is back to 96.35/40, still up from recent lows sub 96.00.
• We have had negative headlines out of South Korea, with the opposition party reportedly hearing intel on a second martial law. Still the AUD was moving before that headline hit. South Korea assets are also away from worst levels. NZD/USD is holding weaker as well, off 0.40% to 0.5860/65.
• US equity futures sit down a touch, but Nasdaq futures are only off by 0.05% at this stage. Earlier headlines from incoming US President Trump stated David O Sacks will be in charge of crypto and AI policy in the new administration, with a shift away from big tech bias (per Trump's post). Fallout from this is limited so far though.
• Elsewhere, US yields are little changed. China and Hong Kong equities are marginally higher. While in the commodity space, iron ore is up a touch but copper is down slightly.