USD Off Earlier Highs, A$ & NZD Firmer

The USD index sits off its earlier highs, the BBDXY back to around flat at 1236.8 in recent dealings.

• US equity futures have recovered some ground, sitting up from earlier lows, although Eminis are still in the red. Oil prices are off earlier highs, Brent last near $84/bbl (earlier high was a t$84.80/bbl), which may have helped equity risk appetite stabilize at the margins. Brent is still +0.60% firmer for the session.
• AUD and NZD are both around 0.30% firmer versus end Friday levels in NY. Slightly higher commodity prices likely helping at the margin (gold and copper are also marginally higher). AUD was last at 0.6595, while NZD had climbed to 0.6105/10, so both pairs remaining within recent ranges.
• Earlier we had NZ trade data, which showed a narrower trade deficit, although NZD didn't react.
• USD/JPY is back closer to 148.00, against earlier highs of 148.34. US yields sit marginally lower for the session.
• The data calendar is empty for the rest of the Asia Pac session, leaving broader risk tones/flows likely to dominate.