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USD Ticking Higher

FOREX

The USD has ticked higher in recent trade as higher Oil prices and lower US Equity Futures provide a level of support as a risk off tone emerges on Wednesday. The aforementioned cancellation of the meeting between President Biden and Arab leaders, as well as lingering concerns over escalation in the Israel/Gaza conflict appear to be the main drivers.

  • The Antipodeans are pressured, AUD and NZD are both down ~0.2%. AUD/USD prints at $0.5350/55, a reminder that support comes in at at $0.6286 low from Oct 3. NZD/USD prints at $0.5885/90 and has ticked away from the $0.59 handle.
  • Yen is little changed, and EUR and GBP are both following the broader USD move. Both are down ~0.2%.
  • SEK is the weakest performer in the G-10 space however liquidity is generally poor in Asia.
  • There has been little reaction in US Tsys as of yet with yields unchanged across the curve.
Energy BulletsCommodities
Energy BulletsCommodities

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