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USD Firms Ahead Of Busy US Data Docket

FOREX

USD sentiment has improved as the first part of the Thursday session has progressed. The BBDXY was last near 1230, +0.07% firmer versus end NY levels on Wednesday.

  • News flow and data outcomes have been light. Some support for the USD has likely come from a tick up in US yields, although gains are only around 1bp for the 10yr at this stage. Regional equity sentiment is mixed to slightly down, another modest USD support point.
  • USD/JPY is back close to Wednesday highs, the pair in the 147.95/00 region. Recent highs have come in just above the 148.00 level in the pair. Tomorrow focus will rest on the Rengo wage announcements (due around 2pm Japan time).
  • AUD/USD is lower, last near 0.6610. This leaves us within recent highs, with earlier offers above 0.6630. iron ore continues to struggle for upside traction, although copper and oil are faring better.
  • NZD/USD is outperforming modestly, last near 0.6160, flat for the session. The AUD/NZD cross is back to 1.0740, away from multi week highs near 1.0760.
  • Looking ahead, US PPI, Retail Sales and unemployment claims data headlines Thursday’s economic data calendar, ahead of next week’s busy central bank docket.
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