US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

MNI: CANADIAN SEP RETAIL SALES +0.4%; SALES EX-AUTOS/PARTS +0.9%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FOREX: USD/JPY Supported Sub 154.00, NZD Falters As AUD/NZD Tests Higher

FOREX
BulletMarketsFixed Income BulletsForeign Exchange Bullets

The main focus in the first part of G10 FX trading for Friday has been JPY gains and NZD losses. At this stage, the BBDXY USD index is little changed, last near 1286.6. Moves elsewhere have been very muted. 

  • USD/JPY saw a brief dip under 154.00 not long after we had slightly stronger than expected Oct National CPI print (for core measures, headline was as expected). This reinforced the potential live nature of the Dec BoJ meeting, coming after Ueda's comments late yesterday.
  • There was little follow through though and overnight lows in USD/JPY at 153.91 remained intact. The pair was last near 154.30/35, up a modest 0.15% in yen terms for the session.
  • NZD weakness was associated with a break higher in the AUD/NZD cross. This cross got to 1.1180, fresh YTD highs, amid AU-NZ yield differential support. The respective central bank outlooks are divergent in the near term. The RBNZ meets next week (50bps cuts expected), while we also have the Oct CPI in Aust. The cross is a little lower now, last near 1.1140/45.
  • NZD/USD fell to fresh YTD lows of 0.5829, but we sit back above 0.5840 in latest dealings. Next downside target is likely to be round figure support at 0.5800, last tested in Nov last year.
  • AUD/USD has been mostly steady, last down a touch to 0.6505/10.  
  • Looking ahead, we have UK retail sales coming up. There will also be focus on flash UK and EU PMIs. We also get US flash PMIs, along with U. of Mich Consumer Sentiment. Fed speak from Bowman also crosses. 
262 words

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.

The main focus in the first part of G10 FX trading for Friday has been JPY gains and NZD losses. At this stage, the BBDXY USD index is little changed, last near 1286.6. Moves elsewhere have been very muted. 

  • USD/JPY saw a brief dip under 154.00 not long after we had slightly stronger than expected Oct National CPI print (for core measures, headline was as expected). This reinforced the potential live nature of the Dec BoJ meeting, coming after Ueda's comments late yesterday.
  • There was little follow through though and overnight lows in USD/JPY at 153.91 remained intact. The pair was last near 154.30/35, up a modest 0.15% in yen terms for the session.
  • NZD weakness was associated with a break higher in the AUD/NZD cross. This cross got to 1.1180, fresh YTD highs, amid AU-NZ yield differential support. The respective central bank outlooks are divergent in the near term. The RBNZ meets next week (50bps cuts expected), while we also have the Oct CPI in Aust. The cross is a little lower now, last near 1.1140/45.
  • NZD/USD fell to fresh YTD lows of 0.5829, but we sit back above 0.5840 in latest dealings. Next downside target is likely to be round figure support at 0.5800, last tested in Nov last year.
  • AUD/USD has been mostly steady, last down a touch to 0.6505/10.  
  • Looking ahead, we have UK retail sales coming up. There will also be focus on flash UK and EU PMIs. We also get US flash PMIs, along with U. of Mich Consumer Sentiment. Fed speak from Bowman also crosses.