USD Marginally Pressured In Early Trade

The greenback is marginally pressured in early dealing as Asia particpants react to yesterdays softer than expected US PPI print however moves have been limited with little follow through thus far.

• Yen is a touch firmer, USD/JPY is ~0.1% softer last printing at ¥132.50/60. Technically yesterday's price action added to the evidence that the latest recovery was corrective in nature. Bears now target a break of low from Apr 10 (¥131.83) which open ¥130.64 the low from Apr 5 and key support.
• AUD/USD is 0.1% yesterday's closing levels, the pair is consolidating Thursday's gains in a narrow $0.6780/95 range.
• Kiwi is a touch firmer, NZD/USD prints at $0.6300/05. There was little reaction to the fall in March BusinessNZ Manufacturing PMI. The measure fell to 48.1 with February's print revised lower to 51.7.
• DXY finished yesterday at 101.01, 2023 lows are at 100.82. The measure has fallen ~5% since its 2023 high in early March.
• Cross asset wise; e-minis are little changed as are US Treasury Yields.
• The data calendar is thin for the remainder of the Asia-Pac session. Further out we have the final read of French CPI and a slew of US data including US Retail Sales, Business Inventories, Industrial Production and UofMich Consumer Sentiment.