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USD Slips On Firmer Equity Futures/Yield Downtick

FOREX

The skew has seen USD weakness emerge in the last part of trade. Overall moves are modest, with the BBDXY off 0.06%, last near 1240.40, but all of the G10 is higher against the USD at this stage.

  • Cross asset wise, US yields have ticked lower, while US equity futures have firmed, Nasdaq futures leading the way, up nearly 0.25%. This has likely been a factor in USD softness.
  • AUD/USD is up 0.15%, last in the 0.6530/35. We are still well below pre NFP levels above 0.6600 form last Friday though.
  • Focus will be on the HK/China equity market open, with HK markets gaining ground in the first part of trade. China's CSI 300 little changed.
  • NZD/USD is back to 0.6100, still below earlier highs, while USD/JPY sits marginally lower, last at 147.85.
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