Tight G-10 Ranges, USD Little Changed

There has been little in the way of meaningful moves in the Asian session. JPY and the Antipodeans are marginally outperforming, and the DXY is little changed.

• Japan Dec PPI Services crossed the wires early in the session, the headline figure was a touch below estimates, however this is unlikely to move the needle for the BoJ.
• BoJ's summary of opinions from the January monetary policy meeting was also on the wires. The comments reiterated themes observed previously, noting the need for continued easing as well as time to assess the impact of December's surprise YCC tweak.
• JPY was stronger in early trade, however USD/JPY found support ahead of ¥129.00 before paring losses to sit ~0.2% softer.
• AUD/USD firmed through the session, risk appetite grew after a bid in HK Equities, meeting resistance at yesterday's high. China's Xi wants to deepen cooperation with Australia reported Xinhua.
• NZD/USD was range bound, dealing in a narrow $0.6470/90 range, also benefiting from the bid in the Hang Seng to recover off early lows.
• EUR/USD is marginally softer than NY closing levels.
• Lunar NY Holiday impacted liquidity in Asia-Pac hours, with China still out, while the observance of a national holiday in Australia sapped further liquidity from the timezone.
• There is a thin calendar in Europe today. Further out we have a slew of U.S. data including Q4 GDP, new home sales and initial jobless claims.