MNI China Daily Summary: Thursday, January 9

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MNI: GERMANY NOV IND PROD +1.5% M/M

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FOREX: US Dollar Trending Lower After US Yields Drop

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G10 currency moves have generally been limited with holiday-impacted trading thin. The greenback has trended lower through most of the session after yields fell on Monday, the BBDXY USD index is down 0.1%. The yen has moved the most against the US dollar with USDJPY down 0.3% to 156.42, close to the intraday low. JPY strengthened on Monday as US equities sold off and that trend has continued today with US equity futures slightly lower.

  • AUDUSD is up 0.1% to 0.6229, close to the intraday high, after a low of 0.6211 earlier. It may face downward pressure with A$620mn of options due to expire on January 2 at 0.6175. There is also little support for Aussie from risk appetite. AUDJPY is down 0.2% to 97.42.
  • NZDUSD is moderately higher at 0.5642 following a drop to 0.5633. AUDNZD is up 0.1% to 1.1040.
  • EURUSD and GBPUSD are slightly higher at 1.0411 and 1.2559 respectively.
  • Japan, South Korea and Thailand are closed and the equity markets that are open are currently mixed. The Hang Seng is up 0.2% but the CSI 300 is down 0.2% and the ASX -0.6%. Copper is up 0.1% and iron ore is around $101/t.
  • Germany, Italy, Switzerland, Sweden and Norway have holidays, the UK closes at 12:30 and France at 14:05.
  • US October house price data and December Dallas Fed print later. 
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G10 currency moves have generally been limited with holiday-impacted trading thin. The greenback has trended lower through most of the session after yields fell on Monday, the BBDXY USD index is down 0.1%. The yen has moved the most against the US dollar with USDJPY down 0.3% to 156.42, close to the intraday low. JPY strengthened on Monday as US equities sold off and that trend has continued today with US equity futures slightly lower.

  • AUDUSD is up 0.1% to 0.6229, close to the intraday high, after a low of 0.6211 earlier. It may face downward pressure with A$620mn of options due to expire on January 2 at 0.6175. There is also little support for Aussie from risk appetite. AUDJPY is down 0.2% to 97.42.
  • NZDUSD is moderately higher at 0.5642 following a drop to 0.5633. AUDNZD is up 0.1% to 1.1040.
  • EURUSD and GBPUSD are slightly higher at 1.0411 and 1.2559 respectively.
  • Japan, South Korea and Thailand are closed and the equity markets that are open are currently mixed. The Hang Seng is up 0.2% but the CSI 300 is down 0.2% and the ASX -0.6%. Copper is up 0.1% and iron ore is around $101/t.
  • Germany, Italy, Switzerland, Sweden and Norway have holidays, the UK closes at 12:30 and France at 14:05.
  • US October house price data and December Dallas Fed print later.