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USD Firms, A$ Unwinds Post Job Data Gains

FOREX

The USD is slightly firmer in recent dealings, the BBDXY index tracking back towards 1264.

  • Higher beta FX is underperforming at the margins, but all G10 FX is down against the USD at this stage.
  • AUD/USD has reversed the slight tick higher post slightly better than jobs data (which included solid detail in terms of full time jobs growth). Highs post the print were at 0.6667, but we are back under 0.6650 now.
  • Higher USD/CNY spot levels (back towards 7.2500), and slightly weaker China equities are not helping. Hong Kong equities are in positive territory, but comfortably off earlier highs. Otherwise there doesn't appear an obvious macro catalyst for the move.
  • NZD/USD is also down around 0.20%, last near 0.6170.
  • USD/JPY is slightly higher for the session, last 156.85. US equity futures remain higher, led by the Nasdaq. US yields are back to around flat across the benchmarks.
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