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Steady G10 FX Start, Aust Consumer Sentiment Out Soon

FOREX

It has been a relatively steady start for G10 FX currencies in the first part of Tuesday trade,

  • The BBDXY sits near 1264.0 in recent dealings close to unchanged from end Monday levels in NY.
  • USD/JPY is near 159.60/65, also unchanged, with tight ranges in the first part of dealing. Earlier data showed a weaker than expected PPI services print for May. We were 2.5% y/y, against a 3.0% forecast and prior read of 2.7%. Still market sentiment hasn't been impacted.
  • AUD and NZD are down a touch from end Monday levels, but remain within recent ranges. AUD/USD last near 0.6655, NZD/USD just above 0.6120.
  • US equity futures sit a touch higher in the cross asset space, after cash losses in Monday trade reflected further weakness in the tech space. US yields have opened up flat.
  • Looking ahead, we have the Westpac consumer sentiment index print for Australia soon. Later on there is more Japan data, but these prints are unlikely to shift the sentiment needle.
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