[MARKET ANALYSIS] Antipodeans underperform following weakness in Chinese equity markets; G7 against USD trade muted
Importance
Level 1
- DXY oscillates in a 99.09–99.15 range as markets digest a flurry of comments from President Trump.
- EUR/USD and GBP/USD trade in tight ranges as markets await UK GDP and trade balance data, as well as final inflation prints from France and Spain.
- USD/JPY holds onto Wednesday’s losses as the JPY sees some strength following reports of a new opposition party, which may compete with PM Takaichi’s party and make it harder for the prime minister to pass legislation. USD/JPY recorded its first down day since the first trading session of 2026.
- Antipodeans underperform their G7 counterparts, weighed down by a pullback in metals and weakness in Chinese equity markets.
- CNH strengthened slightly following the firmer-than-prior PBoC Yuan fixing.
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