November 02, 2023 00:22 GMT
Post-FOMC Pressure On USD Extends
The pressure seen on the USD on Wednesday has extended in early dealing on Thursday. The Antipodeans are leading the bid in the G-10 space. US Equity futures are firmer and Tsy Yields have ticked lower.
- Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD is up ~0.6% last printing at $0.5875/80. Bull's immediate focus is on holding above the 20-Day EMA ($0.5870) to target the high from 10 Oct ($0.6049).
- AUD/USD is up ~0.5%, firming above the $0.64 handle this morning. The pair sits on the 50-Day EMA ($0.6404), the next target for bulls is $0.6445 high from Oct 11.
- Yen is ~0.3% firmer, however USD/JPY remains well above the ¥150 handle. Support comes in at the 20-Day EMA ¥149.66.
- Elsewhere GBP and EUR are reflecting the broader USD move, both are up ~0.2%.
- The docket is light for the remainder of the Asian session, Australia's Trade Balance crosses shortly. Further out we have the latest monetary policy decision from the BoE.