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Sentiment Stays Buoyant, Ranges Are Tight

FOREX

Major FX pairs have meandered in a muted early part of the Asia-Pac session, with participants assessing the economic outlook in light of latest signals. Most regional equity benchmarks are up on a positive lead from Wall Street, but U.S. e-mini futures trade marginally in the red.

  • The greenback has extended yesterday's losses, even as U.S. Tsy yields have edged higher in cash Tokyo trade. Bloomberg dollar index (BBDXY) is descending towards yesterday's worst levels, but has not yet tested them.
  • The likes of CHF and JPY sit towards the lower end of the G10 pile amid limited appetite for safe havens. AUD and NOK narrowly lead gains as we type, albeit CAD struggles.
  • U.S. NFP report provides the main point of note on today's data docket, with final U.S. wholesale inventories, Canadian jobs data & Japanese Eco Watchers Survey also due. Central bank speaker slate includes Fed's Williams and ECB's Lagarde, Muller, Visco & Villeroy.
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