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In the red for the 5 past days in G10s

USD
  • USD remains on the back foot since the cash Govie open, a continuation of the overnight session, and for the past 5 sessions, as latest US data miss expectations, and investors are looking for a less aggressive rate path.
  • ALL EYES on the US CPI tomorrow, likely to be the decider for 50 vs 25bps hike for the next meeting.
  • AUD is the best performer, after the country saw a CPI and Retail sales beat overnight.
  • The standout performer in G10 this past month has been the Yen, up 3.25% against the Dollar.
  • The only currencies that have struggled for that period, are the SEK (-0.84%), GBP (-0.70%), and the Kiwi (-0.51%).
  • Note that option expiry for AUDUSD, now sees 915mln at 0.6950, and 1.77bn at 0.6990 for today.
  • Initial resistance is also seen at 0.6950.
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