Weaker US Equity Futures Not Weighing, NZD/USD To Fresh Highs

The USD has started Thursday trade in a slightly offered fashion, but the BBDXY is down only around 0.10% at this stage.

• There has been a lot of focus on Nvidia results through the Asia Pac cross over period, but broader risk sentiment shifts have largely been confined to the US equity space.
• Nvidia is down in extended trade as lofty market sentiment failed to be met. This has dragged US equity futures lower, although we are away from worst levels. Nasdaq futures sit just under 1% weaker at this stage.
• US yields are little changed. Earlier comments from the Fed's Bostic on the need for more data before making a decision to cut rates hasn't impacted sentiment.
• USD/JPY got to lows of 144.22 in early trade (in line with weaker US equity futures) but sits back near 144.50 in latest dealings, only slightly firmer in yen terms for the session.
• NZD/USD is outperforming up 0.30%, last above 0.6260. This is fresh highs in the pair back to January of this year.
• AUD/USD is up but lagging NZD gains, still under 0.6800 in recent dealings. The AUD/NZD is weaker, back to 1.0850, close to earlier August lows, which may be aiding the NZD outperformance.
• Coming up we have NZ business confidence data, followed by Australian Q2 Capex figures. Later on Japan consumer confidence is out.