May 17, 2024 00:27 GMT
USD Trends Steady, BoJ Bond Buying Ops & China Data On Tap Later
FOREX
It has been a relatively steady start for USD sentiment against the majors. There is a slight upshift in the BBDXY USD index to 1246, but this is only marginally above end NY levels from Thursday.
- All majors are close to end levels from NY trade on Thursday or slightly weaker versus the USD. USD/JPY around 155.45/50, AUD/USD near 0.6675/80, while NZD/USD is close to 0.6125.
- We had NZ PPI data earlier, but it didn't shift sentiment and was close to Q4 prints.
- In the cross asset space, US yields are down a touch at the front, unwinding part of Thursday's gains (2yr off 1.5bps), but this isn't shifting sentiment at this stage. US equity futures are around flat.
- Coming up we have BoJ bond buying ops which could influence yen. After that we get China house prices and then April activity prints.
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