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Positive Sentiment Drives Early Price Action, Yen Loses Allure

FOREX

Risk-on flows have materialised in G10 FX space at the start to the Asia-Pac session, with U.S. e-mini futures operating in the green and regional benchmarks generally trading on a firmer footing on a positive lead from Wall Street.

  • The Antipodeans pace gains, with AUD/USD climbing above the $0.7000 mark after two consecutive failures to close above that level. NZD/USD is testing the $0.6300 figure, narrowing in on its 50-DMA, which has been intact since April.
  • The yen underperforms at the margin, taking a breather in the wake of yesterday's surge. USD/JPY has added ~30 pips thus far, with short-end U.S. Tsy yields rising a tad. The rate has seemingly found support in its 50-DMA, which today intersects at Y134.30.
  • Asia-Pac data releases move into lower gear from here and focus turns to preliminary EZ GDP, German unemployment and flash CPI figures from France & Italy.
  • Later in the day, the American docket features U.S. core PCE data, MNI Chicago PMI & final Uni. of Mich. Sentiment as well as Canadian GDP.
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Risk-on flows have materialised in G10 FX space at the start to the Asia-Pac session, with U.S. e-mini futures operating in the green and regional benchmarks generally trading on a firmer footing on a positive lead from Wall Street.

  • The Antipodeans pace gains, with AUD/USD climbing above the $0.7000 mark after two consecutive failures to close above that level. NZD/USD is testing the $0.6300 figure, narrowing in on its 50-DMA, which has been intact since April.
  • The yen underperforms at the margin, taking a breather in the wake of yesterday's surge. USD/JPY has added ~30 pips thus far, with short-end U.S. Tsy yields rising a tad. The rate has seemingly found support in its 50-DMA, which today intersects at Y134.30.
  • Asia-Pac data releases move into lower gear from here and focus turns to preliminary EZ GDP, German unemployment and flash CPI figures from France & Italy.
  • Later in the day, the American docket features U.S. core PCE data, MNI Chicago PMI & final Uni. of Mich. Sentiment as well as Canadian GDP.