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USD On The Back Foot, Yen Leading

FOREX

The USD remains on the back foot in the first part of the Asia session, a continuation of the theme from the second half of the NY session. The BBDXY is back to a 1267 handle, note the simple 200-day MA for this index comes in at 1266.38.

  • Yen is playing catch up, after being a laggard through Wednesday's session. USD/JPY is down around 0.50% at this stage, falling through lows from earlier in the week. The pair was last around 137.35/40 (session lows are at 137.27). Japan Q3 capital spending and company profits data just printed, which generally came in stronger than expected.
  • NZD/USD is next best performer at +0.30%, putting the pair back to 0.6315. AUD/USD is firmer but not yet above the 0.6800 handle. Only CAD is unchanged at this stage in the G10 space.
  • Still to come is Q3 Australian Capex data, along with the Caixin China manufacturing PMI.
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