USD Losses Continue

The USD index is making fresh lows, off a further -0.15/0.20% since the start of the session. The BBDXY is down to a 1242/43 handle, a continuation from sharp losses in the NY session on Friday. Gains are fairly uniform against the dollar, although AUD is seeing slight outperformance.

• In the cross-asset space, US equity futures have opened up firmer, but are away from best levels, last around +0.15 for the SPX and Nasdaq, which is aiding the risk on tone.
• There is no US cash Tsy trading with Japan markets closed today. Still, USD/JPY is back sub 131.90, up slightly from earlier lows of 131.71.
• AUD/USD is threatening a break above 0.6900, last around 0.6890/95, which is +0.25% on opening levels. Oil and gold are slightly higher to start the week. Copper (CMX) is +1.67% to $397.65, albeit on light volumes.
• NZD/USD is back to 0.6360/65 slightly shaded by A$ gains. The AUD/NZD cross is around 1.0840/45 at present, meeting some selling interest closer to 1.0880 since the start of the year.
• Coming up shortly is AU building approvals for Nov, which is unlikely to shift the AUD sentiment needle (market forecast is a flat outcome, versus -6.0% m/m prior).