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FOREX: USD Ticks Higher, Focus On Yen Weakness, BoJ Speech Coming Up

FOREX

Early G10 trends are biased slightly in favor of the USD, but aggregate moves are very modest this stage. The USD BBDXY index was last near 1229.3, little changed for the session.

  • Focus has rested with USD/JPY has the pair probes recent highs. In early dealings we got to 146.90, fresh highs back to early Sep, but we last tracked near 146.55/60, only down slightly in yen terms for the session.
  • If the pair can consolidate the recent break above the 50-day EMA, upside focus will rest on a test of 147.00. Yesterday yen fell nearly 2%, its worst daily drop since 2022, amid dovish BoJ rhetoric from new PM Ishiba.
  • We do have a speech coming up from BoJ board member Noguchi. The BoJ Summary Of Opinions from earlier this week was cautious further near term policy adjustments and BoJ communications.
  • NZD/USD has ticked down slightly, last under 0.6260, as we continue to see local banks call for a 50bps cut from the RBNZ next week. On the data front, we had the ANZ commodity price index rise 1.8%m/m in Sep, versus +2.% in August.
  • AUD/USD is very steady, close to 0.6885 in latest dealings, August trade data prints later.
  • Otherwise the data calendar is light for the remainder of today's Asia Pac session. 
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Early G10 trends are biased slightly in favor of the USD, but aggregate moves are very modest this stage. The USD BBDXY index was last near 1229.3, little changed for the session.

  • Focus has rested with USD/JPY has the pair probes recent highs. In early dealings we got to 146.90, fresh highs back to early Sep, but we last tracked near 146.55/60, only down slightly in yen terms for the session.
  • If the pair can consolidate the recent break above the 50-day EMA, upside focus will rest on a test of 147.00. Yesterday yen fell nearly 2%, its worst daily drop since 2022, amid dovish BoJ rhetoric from new PM Ishiba.
  • We do have a speech coming up from BoJ board member Noguchi. The BoJ Summary Of Opinions from earlier this week was cautious further near term policy adjustments and BoJ communications.
  • NZD/USD has ticked down slightly, last under 0.6260, as we continue to see local banks call for a 50bps cut from the RBNZ next week. On the data front, we had the ANZ commodity price index rise 1.8%m/m in Sep, versus +2.% in August.
  • AUD/USD is very steady, close to 0.6885 in latest dealings, August trade data prints later.
  • Otherwise the data calendar is light for the remainder of today's Asia Pac session.