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FOREX: USD/JPY Close To 158.00 Test, A$ and NZD Down Modestly

FOREX
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Early G10 trends on Friday are in favor of the USD, with yen weakness remaining a focus point. The USD BBDXY has edged up to 1305, very close to intra-session highs from Thursday US trade.

  • USD/JPY reached highs of 157.93 in earlier dealings, but has retraced somewhat since (last near 157.75/80, still down around 0.20% in yen terms). Upside focus in the pair is likely to remain on July highs above 158.00.
  • We had the National CPI for Nov print a while ago. The headline measures were close to expectations but showed firmer y/y momentum. The detail was slightly softer outside of a utilities spike.
  • JGB futures have risen, while US Tsy futures are also higher, as the US House failed to pass a stop-gap funding bill, which risks a government shut down. US equity futures are softer, off 0.20-0.30%, which may have helped curb USD/JPY gains at the margin.
  • AUD and NZD both sit lower by a little over 0.1%, but are above Thursday lows. AUD/USD was last near 0.6230, NZD/USD around 0.5620/25.
  • Data showed ANZ's NZ consumer confidence measure edging up, while the trade deficit improved further. The data didn't impact sentiment though. Aust private sector credit rose 0.5%m/m for Nov, in line with market expectations.
  • Coming up later we have China loan prime rates, which are expected to remain unchanged. 
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Early G10 trends on Friday are in favor of the USD, with yen weakness remaining a focus point. The USD BBDXY has edged up to 1305, very close to intra-session highs from Thursday US trade.

  • USD/JPY reached highs of 157.93 in earlier dealings, but has retraced somewhat since (last near 157.75/80, still down around 0.20% in yen terms). Upside focus in the pair is likely to remain on July highs above 158.00.
  • We had the National CPI for Nov print a while ago. The headline measures were close to expectations but showed firmer y/y momentum. The detail was slightly softer outside of a utilities spike.
  • JGB futures have risen, while US Tsy futures are also higher, as the US House failed to pass a stop-gap funding bill, which risks a government shut down. US equity futures are softer, off 0.20-0.30%, which may have helped curb USD/JPY gains at the margin.
  • AUD and NZD both sit lower by a little over 0.1%, but are above Thursday lows. AUD/USD was last near 0.6230, NZD/USD around 0.5620/25.
  • Data showed ANZ's NZ consumer confidence measure edging up, while the trade deficit improved further. The data didn't impact sentiment though. Aust private sector credit rose 0.5%m/m for Nov, in line with market expectations.
  • Coming up later we have China loan prime rates, which are expected to remain unchanged.