Yen firmer, NZD Pressured. Australia Labour Data On Tap

Yen is the strongest performer in the G-10 space at the margins on Thursday morning. NZD is pressured after the Q4 GDP print.

• USD/JPY prints at ¥132.60/70 down ~0.6%. The latest round of North Korean missile launches has sparked an offer in the pair. The bid extended as data wise trade balance was narrower than expectations and Core Machine Orders printed above expectations. Support comes in at 50-Day MA (¥132.54) then ¥132.22 low from March 15.
• Kiwi is pressured, Q4 GDP printed at -0.6 q/q vs -0.2% exp. NZD/USD was down 0.6%, before finding support at $0.6140 and paring losses. AUD/NZD is ~0.3% firmer, last printing $1.0720/30, resistance was seen in the aftermath of the NZ GDP print at $1.0770.
• AUD/USD is little changed, ranges have been tight with little follow through. The Australian labour market report from Australia is on the wires at the bottom of the hour. The Bloomberg survey median estimate looks for a net gain of 50k jobs and a headline unemployment rate of 3.6%.
• Elsewhere CHF is ~0.3% firmer marginally paring yesterdays Credit Suisse driven weakness as USD/CHF rose 2%.
• Cross asset flows are mixed, US Treasury Yields are marginally lower, e-minis are 0.1% firmer. BBDXY is down ~0.1%.
• The aforementioned Australian Labour Market Report headlines in Asia today. Further the ECB monetary policy decision highlights the docket.