Free Trial
US

Atlanta Fed GDPNow Q1 '23 Est

EQUITIES

Earnings Cycle Reaches Critical Mass Next Week

US 10YR FUTURE TECHS

‌‌(H3)‌‌ Approaching Support

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Riks-Off Flows Dictate Early Sentiment

FOREX

The early impetus is for modest USD strength. The BBDXY was last 1283.75, around +0.10% above NY closing levels. Amongst the majors only JPY and CHF are up slightly against the USD so far today, in line with broader risk-off flows evident from a cross asset standpoint.

  • Equity sentiment is being weighed by negative Covid developments out of China. US equity futures are lower at this stage (-0.15-0.25%), while regional equities are down, except for Japan.
  • US yields are down as well, the 2yr off by 2bps to 4.51%.
  • USD/JPY hasn't strayed too far from the 140.30 level, slightly down on NY closing levels from last week.
  • AUD/USD is off by around 0.20%, back under the 0.6660 level. NZD has unwound some early outperformance and is back below 0.6150. Still the skew for the AUD/NZD cross remains to the downside, last printing at 1.0835.
  • EUR/USD is back to 1.0310/15, while GBP is underperforming slightly, back at 1.1860/65.
  • Still to come is the China LPR decision (no change expected), while NZ credit card spending figures print later as well.
178 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

The early impetus is for modest USD strength. The BBDXY was last 1283.75, around +0.10% above NY closing levels. Amongst the majors only JPY and CHF are up slightly against the USD so far today, in line with broader risk-off flows evident from a cross asset standpoint.

  • Equity sentiment is being weighed by negative Covid developments out of China. US equity futures are lower at this stage (-0.15-0.25%), while regional equities are down, except for Japan.
  • US yields are down as well, the 2yr off by 2bps to 4.51%.
  • USD/JPY hasn't strayed too far from the 140.30 level, slightly down on NY closing levels from last week.
  • AUD/USD is off by around 0.20%, back under the 0.6660 level. NZD has unwound some early outperformance and is back below 0.6150. Still the skew for the AUD/NZD cross remains to the downside, last printing at 1.0835.
  • EUR/USD is back to 1.0310/15, while GBP is underperforming slightly, back at 1.1860/65.
  • Still to come is the China LPR decision (no change expected), while NZ credit card spending figures print later as well.