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USD Up A Touch, Aust Retail Sales & China PMIs Up Soon

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The BBDXY is slightly higher in early Tuesday dealings, the USD index last around the 1258.8 level, a touch above end NY levels from Monday.

  • Cross asset sentiment has been steady, with US equity futures little changed since the open, while US cash Tsy yields sit a touch lower (but losses are less than 1bps at this stage).
  • USD/JPY has seen some volatility, albeit much lower than yesterday's. Dips in the pair towards 156.00 have been supported. We last tracked near 156.55/60, slightly higher for the session.
  • Earlier Japan data on the jobless rate, retail sales and IP were mixed, but haven't shifted the sentiment needle greatly.
  • Headlines crossed earlier from currency chief Kanda, stating the authorities would respond firmly to excessive FX moves, but didn't confirm they intervened yesterday.
  • AUD and NZD are both lower, but up from worst levels lows. AUD/USD last 0.6560/65 (low 0.6554), while NZD/USD is near 0.5970/75 (0.5966).
  • We have Australian retail sales coming up in around 1 hour (mkt expects a 0.2% rise versus 0.3% prior). At the same time official China PMIs print for April. The market expects a downtick in both the manufacturing and services reads.
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The BBDXY is slightly higher in early Tuesday dealings, the USD index last around the 1258.8 level, a touch above end NY levels from Monday.

  • Cross asset sentiment has been steady, with US equity futures little changed since the open, while US cash Tsy yields sit a touch lower (but losses are less than 1bps at this stage).
  • USD/JPY has seen some volatility, albeit much lower than yesterday's. Dips in the pair towards 156.00 have been supported. We last tracked near 156.55/60, slightly higher for the session.
  • Earlier Japan data on the jobless rate, retail sales and IP were mixed, but haven't shifted the sentiment needle greatly.
  • Headlines crossed earlier from currency chief Kanda, stating the authorities would respond firmly to excessive FX moves, but didn't confirm they intervened yesterday.
  • AUD and NZD are both lower, but up from worst levels lows. AUD/USD last 0.6560/65 (low 0.6554), while NZD/USD is near 0.5970/75 (0.5966).
  • We have Australian retail sales coming up in around 1 hour (mkt expects a 0.2% rise versus 0.3% prior). At the same time official China PMIs print for April. The market expects a downtick in both the manufacturing and services reads.