MNI INTERVIEW: Fed QT Likely To Linger After Rate Cuts Start

MNI BRIEF: BOE Markets Head Sees Wider Collateral, More Repos

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

MNI BRIEF: PBOC Lowers Ceiling of Its Interest Corridor

MNI: PBOC Sets Yuan Parity Higher At 7.1335 Mon; -1.18% Y/Y

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CBRT Data Watch

NBH Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Positive USD Trend Continues, A$ Testing Sub 0.6600

FOREX
BulletMarketsForeign Exchange BulletsHomepage

The USD is trading with a positive bias in the first part of Friday dealings. The BBDXY USD index sits a touch higher, last above 1253.1.

  • AUD/USD is sub 0.6600, with focus likely on whether we test the 50-day EMA at 0.6575. Losses are close to 0.15% at this stage.
  • Regional equity markets are weaker, following the negative lead from Wall ST on Thursday. US equity futures are slightly in positive territory at this stage, while US yields are a down around 1bps.
  • Commodity indices were weaker as well in Thursday trade, another AUD headwind. The A$ is down 1.4% over the past week, the worst performer in the G10 (followed by CAD off 0.90%).
  • NZD/USD has ticked down as well, but isn't too far away from the 0.6100 level. Earlier data showed NZ ANZ consumer confidence rising to 84.9 (+3.4%), while trade figures showed a smaller surplus for April as imports were higher
  • USD/JPY is up to 157.05/10, but remains sub intra-session highs from Thursday (157.20). The National CPI print for April was close to expectations.
  • The data and event risk calendar are light for the remainder of the Asia Pac session.
192 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The USD is trading with a positive bias in the first part of Friday dealings. The BBDXY USD index sits a touch higher, last above 1253.1.

  • AUD/USD is sub 0.6600, with focus likely on whether we test the 50-day EMA at 0.6575. Losses are close to 0.15% at this stage.
  • Regional equity markets are weaker, following the negative lead from Wall ST on Thursday. US equity futures are slightly in positive territory at this stage, while US yields are a down around 1bps.
  • Commodity indices were weaker as well in Thursday trade, another AUD headwind. The A$ is down 1.4% over the past week, the worst performer in the G10 (followed by CAD off 0.90%).
  • NZD/USD has ticked down as well, but isn't too far away from the 0.6100 level. Earlier data showed NZ ANZ consumer confidence rising to 84.9 (+3.4%), while trade figures showed a smaller surplus for April as imports were higher
  • USD/JPY is up to 157.05/10, but remains sub intra-session highs from Thursday (157.20). The National CPI print for April was close to expectations.
  • The data and event risk calendar are light for the remainder of the Asia Pac session.