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Looking For Catalysts

FOREX

G10 FX pairs were rangebound as the absence of market-moving headlines in Asia-Pac hours allowed participants to stay on the sidelines, contemplate familiar themes and await fresh catalysts. The DXY moved away from Wednesday's high.

  • GBP led gains in the G10 basket, while NOK was the main laggard, amid a broader correction of yesterday's moves, which allowed JPY to claim back Wednesday's losses.
  • The PBOC fixed its USD/CNY mid-point at CNY6.5463, 3 pips below sell side estimates. USD/CNH crept higher through the session.
  • Today's data highlights include U.S. initial jobless claims, German factory orders & Norwegian industrial output. Central bank speaker slate features Fed's Powell, Bullard & Kashkari as well as Riksbank's Ingves. The ECB will publish the account of its latest MonPol meeting.

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