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Greenback Moderately Pressured As Risk Sentiment Improves

FOREX

The USD is moderately pressured in Asia as risk sentiment improves in todays Asian session. Regional equities are firmer, Nikkei is up ~1.3% as BOJ Gov Ueda pledged to continue easing, and e-minis are ~0.1% firmer.

  • AUD is the strongest performer in the G-10 space at the margins. AUD/USD prints at $0.6665/70 ~0.4% firmer on Tuesday. April Westpac Consumer Confidence rose 9.4% to 85.8, the highest print since mid 2022. NAB March Business Confidence rose to -1 from -4 and business conditions fell a touch to 16 from 17 in Feb.
  • Kiwi is ~0.2% firmer, NZD/USD last prints at $0.6225/30. THe pair sits a touch below its 20-Day EMA having found support ahead of $0.62 in early trade.
  • Yen is also firmer, USD/JPY has marginally pared some of yesterdays gains and last prints at ¥133.40/50.
  • Elsewhere in G-10 EUR and GBP are both ~0.2% firmer as the broad based USD weakness is reflected across G-10.
  • Cross asset wise; BBDXY is ~0.2% softer and 2 Year US Treasury Yields are ~3bps lower.
  • In Europe today Eurozone Retail Sales headlines an otherwise thin docket.
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