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Yen Marginally Pressured On Thursday

FOREX

JPY is marginally pressured in early Asian trading today as the final read of Q4 GDP figures were weaker than expected with QoQ growth of 0.1% vs 0.8% exp.

  • USD/JPY is higher, dealing at ¥136.95/137.05. The next upside target is ¥138.15 2.0% Upper Bollinger Band.
  • AUD is a touch firmer, up ~0.1%. However AUD/USD has observed narrow ranges and there hasn't been much follow through on moves this morning.
  • NZD/USD prints at $0.6110/15, also ~0.1% firmer. Card Spending in NZ fell 1.7% m/m in February after the Jan print was revised upwards to 3.4%. Levels of spending remain historically high and well above pre-pandemic levels.
  • Marginal greenback weakness has been seen elsewhere, EUR GBP and CHF are all ~0.1% firmer.
  • Cross asset flows are mixed, US Equity futures are ~0.1% softer and US 10 Year Treasury Yields are ~2bps lower. BBDXY is ~0.1% lower.
  • CPI and PPI data from China, which crosses in just over one hour headlines in Asia-Pac today. Further out we have Challenger Job Cuts and Initial Jobless Claims.
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