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AUSSIE 10-YEAR TECHS

(Z1) Off Lows, But Remains Weak

USDCAD TECHS

Still Vulnerable

AUDUSD TECHS

Bullish Price Sequence

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  • The greenback traded poorly Thursday, falling against most others in G10 as a lower, flatter yield curve drained recent greenback strength. The USD index showed below the 94.00 handle, but managed to recoup some of the lost ground just after the London close.
  • JPY resumed recent weakness, underperforming all others as both equity markets and treasuries surged. USD/JPY traded either side of the 113.50 level, not quite touching the week's cycle highs of 113.80, but clearly signalling that another test of the highs is within range.
  • Growth proxies and commodity-tied currencies extended Wednesday's outperformance, with NZD and CAD trading solidly throughout. NZD/USD traded at a new October high, topping the 50- and 100-dmas in the process at 0.7003 and 0.7026 respectively.
  • US retail sales data for September crosses on Friday, with import/export price numbers also due. UMich data is prelim for October, so could also draw focus. Fed's Bullard, Harker and Williams are also due to speak.