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FOREX: USD Index Ticks Higher, Yen Firmer Against NZD & AUD

FOREX
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The USD is a touch higher in early trading, with the USD BBDXY index up over 1304.10. We remain within recent ranges for this index though. The yen is outperforming against AUD and NZD, albeit at the margins. US President Trump signed executive orders earlier bringing 25% tariffs on steel and aluminium imports into effect from March 4. 

  • Trump made other remarks in the oval office, stating Tariffs on autos and chips and other areas, including pharmaceuticals will be coming next Trump stated. Reciprocal tariff details will also be released in the next few day, Trump added.
  • He also stated he will consider an exemption for Australia, which follows an earlier phone call between Trump and Australian PM Albanese.
  • AUD/USD has ticked down, last near 0.6270/25, while, NZD/USD is back to 0.5630. Both currencies are off 0.10-0.15% at this stage.
  • US equity futures are down, a little over 0.20% for Eminis at this stage. There is no cash US Tsy trading today with Japan markets out. Tsy futures are ticking up in early Tuesday dealings.
  • USD/JPY is down modestly, but at 151.80/85 remains within recent ranges. Other currencies are mostly down a touch versus the USD.
  • Coming up we have NAB business confidence for Australia. Earlier we had the Westpac consumer confidence print, which was little changed at 92.2. 
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The USD is a touch higher in early trading, with the USD BBDXY index up over 1304.10. We remain within recent ranges for this index though. The yen is outperforming against AUD and NZD, albeit at the margins. US President Trump signed executive orders earlier bringing 25% tariffs on steel and aluminium imports into effect from March 4. 

  • Trump made other remarks in the oval office, stating Tariffs on autos and chips and other areas, including pharmaceuticals will be coming next Trump stated. Reciprocal tariff details will also be released in the next few day, Trump added.
  • He also stated he will consider an exemption for Australia, which follows an earlier phone call between Trump and Australian PM Albanese.
  • AUD/USD has ticked down, last near 0.6270/25, while, NZD/USD is back to 0.5630. Both currencies are off 0.10-0.15% at this stage.
  • US equity futures are down, a little over 0.20% for Eminis at this stage. There is no cash US Tsy trading today with Japan markets out. Tsy futures are ticking up in early Tuesday dealings.
  • USD/JPY is down modestly, but at 151.80/85 remains within recent ranges. Other currencies are mostly down a touch versus the USD.
  • Coming up we have NAB business confidence for Australia. Earlier we had the Westpac consumer confidence print, which was little changed at 92.2.