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USD Firms Early, Japan Data Coming Up, Followed By RBA's Lowe Speaking Later

FOREX

USD is firmer across the board in early trading. Much like yesterday's session, USD/JPY remains a key driver of broader sentiment. The pair is back to 144.20/35, down slightly from earlier highs, but still +0.30% on NY closing levels. Dips sub 144.00 appear supported for now.

  • We have seen spill over to the rest of the G10 complex, EUR is back below parity (last 0.9995).
  • US equity futures have drifted back to slightly negative for the session, after opening +0.10%/0.20% higher.
  • AUD (0.6750/55) and NZD (0.6060/65) are both down 0.25%. NZ Q2 manufacturing activity was weaker in the quarter (-4.9%, versus -3.4% in Q1).
  • Coming up shortly is a host of Japan data, headlined by Q2 GDP revisions. Later, Australian trade data for July prints, then RBA Governor Lowe speaks.

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