[MARKET ANALYSIS] DXY trades steadily after ultimately gaining against most major peers, while JPY fades some of the post-intervention advances
The US Dollar remained steady as strong manufacturing data and a 6.2% GDP estimate offset JPY intervention effects and softer European activity.
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DXY: FlatDollar trades steadily overnight after ultimately gaining against most major peers yesterday, despite the decline in oil prices and yields, while recent data was encouraging as ISM Manufacturing PMI beat in July, driven by increases in production and new order indices, while the Atlanta Fed's GDP now Q3 estimate was revised up to 6.2% from 5.0%.EUR/USD: FlatPrice action is little changed in the absence of any major fresh catalysts for the bloc and with the prior day's declines stemmed after support held at the 1.1500 level.GBP/USD: FlatLingers around yesterday's trough after pulling back from resistance around the 1.3500 level, with the currency not helped by the recent miss on UK Manufacturing PMI data.USD/JPY: +0.3%Continues its mild recovery from post-intervention lows and gradually approaches closer towards retesting the 158.00 level, with very few fresh catalysts and a lack of tier-1 data overnight.Antipodeans: AUD/USD +0.3% / NZD/USD FlatTrades range-bound but with slight outperformance in AUD/USD following stronger-than-expected Household Spending data.
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