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Antipodeans Firm In Asia

FOREX

The Antipodeans are firmer in Asia after China's August Monthly Economic Activity Data was firmer than forecast. Industrial Production and Retail Sales were the stand out beats.

  • AUD is the strongest performer in the G-10 space at the margins. AUD/USD is up ~0.4%, last printing at $0.6465/70. The pair sits a touch above resistance at $0.6460, high from Sep 14.
  • NZD/USD is up ~0.3%, the pair sits a touch below the 20-Day EMA ($0.5933). BusinessNZ Mfg PMI ticked lower in August, printing at 46.1 the prior read was revised higher to 46.6.
  • Yen is little changed from opening levels, USD/JPY prints at ¥147.35/40. The uptrend remains intact for the pair, resistance comes in at ¥147.87 the 7 Sep high and bull trigger. Support is at ¥145.91 low from Sep 11.
  • Elsewhere in G-10; EUR and GBP are a touch firmer.
  • Cross asset wise; US Tsy Yields are ~1bp lower across the curve and BBDXY is down ~0.1%. E-minis are up ~0.2% and Hang Seng is up ~1.5%.
  • There is a thin data docket in Europe today.
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