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GILT AUCTION PREVIEW

#1: 0.125% Jan-28

US TSY FUTURES

Extend Session Lows

BOE APF PURCHASES

Short-dated purchase analysis

CORN TECHS

(Z1) Trades Through The 20-Day EMA

FOREX

The DXY has edged away from its newly minted cycle lows during Asia-Pac hours, which has applied some pressure to USD crosses. A pullback from intraday lows for U.S. real yields has allowed DXY to rise in Asia.

  • USD/JPY last up 28 pips at 103.39, the pair is broadly unconcerned with the BoJ rate announcement.
  • AUD/USD last down 20 pips at 0.7601, briefly breaching the 0.76 handle. Key near-term support is at 0.7507, Dec 15 low. The 20-day EMA intersects at 0.7432, also a firm support area
  • NZD/USD seeing a similar pattern to its Anitpodean counterpart, last down 18 pips at 0.7130.
  • USD/CNH up 36 pips at 6.5204. The pair had already managed to avoid the pervasive USD weakness and actually rose in the session on Thursday. This move higher has accelerated during the session despite a stronger fix for the yuan. Yesterday there were reports that energy companies and state banks were active buyers of US dollar in onshore markets which kept a cap on gains in the yuan.