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USD Firmer In Asia Amid Thin Holiday Volumes

FOREX

The greenback is moderately firmer in Asia today, volumes have been impacted as Hong Kong, Australia and New Zealand remain closed due to the observance of national holidays. Risk sentiment has been dampened after China simulated precision strikes against key targets in Taiwan over the weekend.

  • Yen is the weakest performer in the G-10 space at the margins. USD/JPY prints at ¥132.70/80 ~0.4% firmer. Japan's Current Account Balance printed below expectations at ¥2197.2bn.
  • Kiwi is also softer, NZD/USD prints at $0.6230/35 ~0.2% softer. The pair has broken through its 20-Day EMA and bears target a break of $0.6200.
  • AUD/USD is ~0.1% softer last printing at $0.6660/65, moves have been limited with narrow ranges observed.
  • Cross asset wise; 2-Year US Treasury Yields have fallen below 4% and are down ~3bps on the day. US Equity futures are marginally softer, BBDXY is ~0.2% firmer.
  • There is a thin data calendar in Europe today, further out US Wholesale Inventories and Fedspeak from NY Fed President Williams provide the highlight on Monday.
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