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FOREX: Yen Softens In Early Trade, But Friday Ranges Hold, Modest Moves Elsewher

FOREX
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Early G10 FX trends have seen some yen weakness, although late Friday ranges remain intact. The USD is slightly firmer against other majors, but overall moves are modest. The USD BBDXY index tracks at 1224.5, slightly above end Friday levels. 

  • USD/JPY was last near 144.25/30, off around 0.25% versus end Friday levels in yen terms. Friday's intra-session high was 144.49, which will be an upside focus point. Earlier lows today were at 143.70.
  • Note Japan markets are out today, which will likely limit liquidity to a degree. This also means no cash US Tsy trading until the London session. At this stage, US 10yr Tsy futures are down a touch but remain comfortably within Friday's ranges.
  • US equity futures are tracking positively after modest cash losses on Friday trade, Eminis up 0.12%, Nasdaq futures +0.23%.
  • There isn't much in the way of shifts elsewhere in the G10 FX space. The CHF is off a little over 0.10%.
  • AUD/USD is relatively steady, near 0.6810. Earlier data showed a down shift the preliminary PMI prints for September. Manufacturing to 46.7 (from 48.5), services to 50.6 (from 52.5).
  • NZD/USD is off slightly to 0.6235. Earlier data showed a wider August trade deficit at over 2.2bn NZD, the prior deficit being just over 1bn NZD.
  • The data calendar is empty for the remainder of the Asia Pac session today. 
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Early G10 FX trends have seen some yen weakness, although late Friday ranges remain intact. The USD is slightly firmer against other majors, but overall moves are modest. The USD BBDXY index tracks at 1224.5, slightly above end Friday levels. 

  • USD/JPY was last near 144.25/30, off around 0.25% versus end Friday levels in yen terms. Friday's intra-session high was 144.49, which will be an upside focus point. Earlier lows today were at 143.70.
  • Note Japan markets are out today, which will likely limit liquidity to a degree. This also means no cash US Tsy trading until the London session. At this stage, US 10yr Tsy futures are down a touch but remain comfortably within Friday's ranges.
  • US equity futures are tracking positively after modest cash losses on Friday trade, Eminis up 0.12%, Nasdaq futures +0.23%.
  • There isn't much in the way of shifts elsewhere in the G10 FX space. The CHF is off a little over 0.10%.
  • AUD/USD is relatively steady, near 0.6810. Earlier data showed a down shift the preliminary PMI prints for September. Manufacturing to 46.7 (from 48.5), services to 50.6 (from 52.5).
  • NZD/USD is off slightly to 0.6235. Earlier data showed a wider August trade deficit at over 2.2bn NZD, the prior deficit being just over 1bn NZD.
  • The data calendar is empty for the remainder of the Asia Pac session today.