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Muted Start In G-10, BOJ On Tap

FOREX

There has been a muted start to Fridays dealing across G-10 FX, ranges have been narrow with little follow through on moves.

  • Yen is a touch firmer, sitting below the ¥134 handle. Tokyo CPI was fimer than expected, core CPI printed 3.5% Y/Y vs 3.2% exp Y/Y. The jobless rate ticked higher to 2.8% from 2.6% a fall to 2.5% had been expected. Retail Sales and Industrial Production were also firmer than forecast.
  • AUD/USD is consolidating yesterday's gain in a narrow $0.6620/35 range. Resistance comes in at $0.6689, 20-Day EMA, and support is seen at $0.6591 low Apr 26.
  • Kiwi is little changed, a narrow 10 pip range has been observed thus far.
  • Cross asset wise; US Equity futures are a touch lower, E-minis are down ~0.2%. US Treasury Yields are little changed across the curve.
  • The latest BOJ monetary policy decision headlines today. There are no major changes expected in policy parameters today, the outlook/guidance will be in focus as will whether the central bank announces a review of its longer term performance and policy settings. The MNI preview is here.
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