The Japanese yen is lower vs. all G10 currencies after Japan’s Ueda signaled the Bank of Japan was in no rush to hike rates further (BoJ raised its target rate by 0.15% to 0.25% on 31July, its 2nd hike this year and its highest rate since 2008).
The New Zealand dollar is leading all G10 today, benefitting from China’s overnight announcement of a new stimulus program. The NZDUSD crossed above 0.6300 for the first time since January of this year in a 0.80% gain vs. the USD.
Australia’s Central Bank (RBA) left its rate unchanged in its policy announcement overnight. No move was expected, leaving it at a 12-year high and bucking the global trend of central bank cuts.
The U.S. dollar index is -0.08% as it continues to hover near its 6-week low at 100.50. A close below 100.25 would likely be a catalyst for a move lower to 99.50.
Long-term treasury yields continue to move higher, now in their 6th consecutive daily advance. The benchmark 10-year yield is trading at 3.793% today, its highest mark in 3 weeks.
Gold extended its record-setting climb today, +0.33% and a newly minted all-time high at $2,639.95/oz. Oil is +2.03% today, reversing yesterday’s decline and on the high end of its 6-day range at $71.79/barrel.
U.S. Consumer Confidence for September was 98.7, falling short of the 104.0 estimate and its lowest since June.
Consumer Price Index data for Mexico released today was modestly lower than forecast in all categories. Headline CPI was 4.66% (4.71% est.) and Core CPI was 3.95% (3.96% est.). The peso is +0.62% against the dollar today.
