USD Lower, Higher China Equities Help A$ & NZD Outperform

The USD is down slightly through today's session, the BBDXY off by -0.10% to 1339, but dips in the index were supported back to overnight lows. We have seen some commodity currency outperformance, although this is more reflective of more positive sentiment in HK/China equities rather than a rebound in commodity prices.

• AUD/USD dips towards 0.6310 have been supported, last around 0.6330, with highs above 0.6340 capping the pair. Iron ore futures in Singapore are sub $90/tonne, while copper is also down slightly. Oil has held up better. Dip buyers in HK/China equities have offset and helped the A$ push higher and remain above NY closing levels.
• NZD/USD has slightly outperformed, last around 0.5715, +0.35% for the session. Earlier RBNZ Chief Economist Conway stated the central is hopeful inflation has peaked, while Deputy Prime Minister Robertson stated no decision has been made on a minimum wage rise for 2023.
• USD/JPY has traded tight ranges, last just above 148.80. A host of official comments didn't appear to shed any fresh light on the intervention issue.
• EUR/USD is just above 0.9880, unable to break above 0.9900, while GBP/USD is trying to hold above 1.1300.
• Still to come is the Australian budget speech (7:30pm AEST), followed by tomorrow's Q3 CPI print. In the US tonight, local data highlights today include Conf. Board Consumer Confidence & Richmond Fed M'fing Index, while Fed's Waller will speak at a conference in Las Vegas.