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USD On A Firmer Footing

FOREX

G10 FX are happy to hug narrow ranges, as the Asia-Pac session has had little in the way of meaningful signals to offer thus far. Headline flow has been relatively light, while regional data releases haven't really moved the needle. USD has firmed up and outperforms its G10 peers at the margin, albeit DXY has not yet tested Wednesday's highs. NOK is the worst performer in the basket as we type.

  • Spot USD/KRW gapped higher at the re-open and printed its best levels in a week, as the rate caught up with yesterday's demand for USD.
  • Focus moves to Services/Composite PMIs, including China's Caixin gauges, Australian & U.S. trade data, U.S. initial jobless claims, EZ retail sales, as well as speeches from BoJ's Kataoka, Fed's Evans, ECB's Schnabel, BoE's Bailey & Ramsden and Riksbank's Skingsley & Ingves.

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