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FOREX: USD Pares Early Losses, USD/JPY Back Above 156.00, A$ Down To 0.6200

FOREX
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The USD has steadily recovered from early weakness, with the USD BBDXY index pushing back above 1312.45 in latest dealings (earlier lows were just under 1310). 

  • Yen is the only currency that has rallied against the USD so far today, although gains have been pared. USD/JPY sits near 156.10 currently, up around 0.25% in yen terms. Earlier lows in the pair were at 155.21, which came after BBG headlines crossed that the BoJ sees a good chance to hike rates next week absent a US shock (likely caused by new policies from the Trump administration) (per BBG sources).
  • BoJ hike odds sit above 80% for the Jan meeting, but down from intra-session highs. Earlier Japan PPI data was close to expectations, rising 3.8%.  
  • AUD/USD got close to 0.6250 earlier, after Dec jobs data comfortably beat expectations. Still, the detail showed all of the jobs created were part time (with full time falling), while the unemployment rate edged up to 4.0% as forecast. AUD/USD is back to 0.6200 currently, off 0.45% versus end NY Wednesday levels.
  • NZD/USD has been dragged lower as well, last near 0.5600/05, but is only off around 0.25% at this stage. GBP/USD is off by a similar amount, last near 1.2210/15, while EUR/USD is little changed near 1.0285.
  • In the cross asset space, US equity futures have lost a little ground, while regional equities have seen tech sensitive plays gain, but more modest gains elsewhere. US yields are up a touch, but haven't shown strong trends.
  • Later we get UK data, including monthly GDP, while in the US initial jobless claims, retail sales and Philly Fed survey. 
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The USD has steadily recovered from early weakness, with the USD BBDXY index pushing back above 1312.45 in latest dealings (earlier lows were just under 1310). 

  • Yen is the only currency that has rallied against the USD so far today, although gains have been pared. USD/JPY sits near 156.10 currently, up around 0.25% in yen terms. Earlier lows in the pair were at 155.21, which came after BBG headlines crossed that the BoJ sees a good chance to hike rates next week absent a US shock (likely caused by new policies from the Trump administration) (per BBG sources).
  • BoJ hike odds sit above 80% for the Jan meeting, but down from intra-session highs. Earlier Japan PPI data was close to expectations, rising 3.8%.  
  • AUD/USD got close to 0.6250 earlier, after Dec jobs data comfortably beat expectations. Still, the detail showed all of the jobs created were part time (with full time falling), while the unemployment rate edged up to 4.0% as forecast. AUD/USD is back to 0.6200 currently, off 0.45% versus end NY Wednesday levels.
  • NZD/USD has been dragged lower as well, last near 0.5600/05, but is only off around 0.25% at this stage. GBP/USD is off by a similar amount, last near 1.2210/15, while EUR/USD is little changed near 1.0285.
  • In the cross asset space, US equity futures have lost a little ground, while regional equities have seen tech sensitive plays gain, but more modest gains elsewhere. US yields are up a touch, but haven't shown strong trends.
  • Later we get UK data, including monthly GDP, while in the US initial jobless claims, retail sales and Philly Fed survey.