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USD is back in the Green against G10s

FOREX
  • After a steadier overnight session, the USD is in the green against most G10, and leads against the NOK and the AUD.
  • AUD has been under pressure this morning in part following some decent selling against the NZD after the RNBZ hiked rates by 50bps vs the 25bps expected by Economists, and Risk tilted to the downside.
  • EURAUD is in turn trading at its highest level since August 2021, with rnext resistance seen at 1.64372, the 2021 peak and highest print since November 2020.
  • Final French, German, EU final services PMIs were revised lower, but had little impact in FX.
  • EUR is similar to the Dollar in G10, and leads against the NOK and the AUD, up 1.02% and 0.98% respectively.
  • As such EURUSD trades flat and in a tight 29 pips range.
  • Note that there are really large option expiry for the pair set to expire today at 15.00BST, with 12.45bn between 1.0900 and 1.1000.
  • Looking ahead, US final services PMI and US ADP/ISM services are the notable data releases.

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