November 18, 2022 10:16 GMT
Greenback Softer Ahead of NY, But Yield Gains Could Limit Downside
FOREX
- The greenback is offered early Friday, with EUR/USD and GBP/USD through the overnight lows and Thursday's best levels under pressure ahead of the NY crossover. US yields are inching higher, with the 10y showing back above 3.80% - which could limit the USD's weakness headed into the crossover.
- AUD and NZD are among the strongest in G10, gaining alongside European equity markets and ahead of the November RBNZ decision next week, at which the bank are seen raising rates a further 75bps.
- GBP is also trading well, with GBP/USD reversing the entirety of the post-budget losses, aided by better-than-expected retail sales which rose 0.6% on the month to bounce off September weakness.
- US data quietens down Friday, with just existing home sales and the October leading index on the docket. ECB's Nagel & Knot, BoE's Mann & Haskel and Fed's Collins make up the speaker slate.
143 words