USD Down Slightly, AU Jobs Data Soon, Yen Shakes Off Weaker GDP Print

The USD is modestly weaker in the first part of the Thursday dealing. The BBDXY last tracked near 1247.55, around 0.05% down from Wednesday NY closing levels.

• Cross asset wise it has been a quiet start for US equity futures, we sit slightly lower. US yields have ticked 1bps lower, continuing the theme of lower yields from Wednesday US trade, although moves are modest overall.
• AUD/USD sits back at 0.6500 slightly outperforming the rest of the G10. Feb consumer inflation expectations were unchanged at 4.5%, we have Jan jobs data due in around 5mins. NZD/USD is slightly higher last near 0.6090, trailing A$ gains slightly.
• USD/JPY rose to 150.58 post weaker than expected Q4 GDP data, which showed the economy was in a technical recession in H2 2023. However, there has been no follow through, the pair last near 150.45, slightly firmer in yen terms for the session.
• As noted above, the main focus will be the Jan jobs data in Australia, coming up soon.