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Strengthens; PPI Services Marginally Above Estimates

FOREX

A tight start to the session with narrow ranges being observed. AUD/USD is up 2 pips, data showed ANZ Roy Morgan Weekly Consumer Confidence fell to 100.7 from 104.3 previously and hitting the lowest since November 2020. ANZ noted that confidence remains above lows seen in the early stages of the pandemic. NZD/USD is up 1 pip, both pairs within a 10 pip range.

  • USD/JPY down 7 pips, data showed Japanese services PPI rose 1.4% Y/Y, above estimates of 1.3%.
  • Offshore yuan is stronger, adding to yesterday's gains as USD/CNH breaks through Monday's US session low, the pair is down 22 pips but still above Monday's opening levels.
  • Elsewhere GBP/USD is up around 10 pips, approaching Monday's high and consolidating above the 1.38 handle as markets digest a slowdown in coronavirus case numbers.
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