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Antipodeans Firm In Asia

FOREX

The Antipodeans have firmed in the Asian session today, a strong Retail Sales print in Australia and firmer US Equity Futures are aiding the bid.

  • AUD/USD is up ~0.3% at $0.6355/60, Fridays high remains intact for now. September Retail Sales printed at 0.9% M/M vs 0.3% expected. Technically the trend remains bearish, support comes in at $0.6270 Oct 26 low. Resistance is at $0.6411 the 50-day EMA.
  • Kiwi is ~0.2% firmer, NZD/USD last prints at $0.6820/25. AUD/NZD is consolidating in a narrow range above the $1.09 handle.
  • Yen is marginally firmer as USD/JPY consolidates below the ¥150 handle. Technically bulls remain in the drivers seat, resistance is at ¥151.09 2.764 projection of the Jul 14-21-28 price swing. Support comes in at the 20-Day EMA (¥149.46).
  • Elsewhere in G-10 ranges have been narrow with little follow through on moves.
  • Cross asset wise, WTI is down ~1.4% and e-minis are ~0.4% firmer. US Tsy Yields are ~3bps higher across the curve.
  • Regional German CPI and National GDP provide the highlight in Europe today.
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