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USD Firms In Asia

FOREX

The greenback is on the front foot in Asia today, an early offer in the USD/JPY saw the USD briefly pressured however the move retraced and the USD firmed. Softer US and regional equities have weighed on risk sentiment.

  • Kiwi is the weakest performer in the G-10 space as falls in equities and commodities weigh. NZD/USD prints at $0.6290/95 down ~0.4% today.
  • AUD/USD is also softer, down ~0.3% last printing a touch under $0.67. Iron Ore continues to slide now down ~6.5% through the week.
  • Yen is a touch firmer, benefiting from marginally softer US Treasury Yields. USD/JPY printed a low at ¥130.78 in early trade before paring losses. The pair now sits at ¥131.15/25.
  • Elsewhere in G-10 weaker oil prices have weighed on NOK, USD/NOK is ~0.3% firmer with the pair breaking its 20-day EMA today. Note though Asia Pac liquidity is likely to be fairly poor for this pair.
  • Cross asset wise, WTI futures are down ~1%. E-minis are ~0.3% softer. BBDXY is ~0.2% firmer.
  • In Europe today Swiss unemployment and German Industrial Production headline. Further out we have initial jobless claims and Fedspeak from St Louis Fed President Bullard will cross.

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