It has been a reasonably quiet session to this point, underscored by some mixed signals in broader markets after yesterday’s motion. The greenback is preserving steadier on the day, discovering little conviction in European buying and selling. That’s considerably comprehensible as we await extra US knowledge to return later right this moment.
USD/JPY is up barely by 0.2% with 10-year yields additionally barely increased by 2 bps to 4.26%. That is not a lot however no less than the pair is holding again above 150.00 for now.
In the meantime, different greenback pairs are much more torpid right this moment. EUR/USD is flattish round 1.0774 with massive choice expiries preserving worth motion in examine. GBP/USD can also be evenly modified after the UK retail gross sales report, holding slightly below 1.2600. Elsewhere, commodity currencies are additionally muted after the forwards and backwards motion towards the greenback this week.
US futures are barely increased however that is probably not translating to something in FX in the intervening time. I imply, shares are in a world of their very own so that is not the most stunning factor.
It seems like we’re gearing in the direction of the subsequent set of US knowledge to resolve what comes subsequent earlier than the weekend. Arising later, we’ll be getting US producer costs and the College of Michigan shopper sentiment and inflation expectations. These may provide one thing for merchants to work with as we glance to wrap up the week.
