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USD Down Slightly, Lower Oil & Positive Equity Tone In Focus

FOREX
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G10 FX trends have seen USD sentiment soften in the first part of Monday trade. The BBDXY sits slightly below NY closing levels from Friday, last near 1263.

  • The majors are up 0.10-0.15% versus the USD. USD/JPY has been in focus after Friday's sharp gains post the BoJ. Earlier lows were at 157.80/85, before we rebounded to 158.43, which was near late Friday highs in NY. We last tracked in the 158.10/15 region.
  • Japan markets are closed today, which means no US cash Tsy trading. US Tsy futures have tracked higher since the open. Lower oil prices (Brent off 0.85%), as the US pushes for a ceasefire in Gaza is likely helping this trend at the margin.
  • Regional equities are higher, as are US equity futures (+0.15% for the Eminis). AUD and NZD are up close to 0.05% for the session so far, slightly trailing yen gains. AUD/USD last near 0.6535/40, NZD/USD at 0.5940/45.
  • The data calendar is very light today, we have already had NZ filled jobs for March (up 0.4%), but this didn't impact sentiment. Later on, German and Spanish CPI prints will be in focus.
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G10 FX trends have seen USD sentiment soften in the first part of Monday trade. The BBDXY sits slightly below NY closing levels from Friday, last near 1263.

  • The majors are up 0.10-0.15% versus the USD. USD/JPY has been in focus after Friday's sharp gains post the BoJ. Earlier lows were at 157.80/85, before we rebounded to 158.43, which was near late Friday highs in NY. We last tracked in the 158.10/15 region.
  • Japan markets are closed today, which means no US cash Tsy trading. US Tsy futures have tracked higher since the open. Lower oil prices (Brent off 0.85%), as the US pushes for a ceasefire in Gaza is likely helping this trend at the margin.
  • Regional equities are higher, as are US equity futures (+0.15% for the Eminis). AUD and NZD are up close to 0.05% for the session so far, slightly trailing yen gains. AUD/USD last near 0.6535/40, NZD/USD at 0.5940/45.
  • The data calendar is very light today, we have already had NZ filled jobs for March (up 0.4%), but this didn't impact sentiment. Later on, German and Spanish CPI prints will be in focus.