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Antipodeans Pare Early Losses

FOREX

The Antipodeans have pared early losses in the Asian session, the AUD was pressured as RBA's Gov Bullock spoke this morning at a Senate committee. She noted that Q3 CPI was in line with RBA Expectations. AUD/USD was down as much as ~0.5% before paring losses to sit a touch under the $0.63 handle ~0.2% lower.

  • The fall in the AUD spilled over into the Kiwi, NZD/USD fell ~0.4% before paring gains to sit ~0.2% lower. The pair is holding below the $0.58 handle for now.
  • Yen is a touch firmer this morning, USD/JPY is down ~0.1% however the pair is holding above teh ¥150 handle. The next upside target for bulls is ¥150.40, 2.618 projection of the Jan16-Mar 8-Mar 24 price swing.
  • Elsewhere in G-10 ranges are narrow with little follow through on moves.
  • Cross asset wise; US Tsy Yields are a touch lower and BBDXY is up ~0.1%. E-minis and NASDAQ futures are pressured as weak tech earnings weigh.
  • The docket is light for the remainder of today's Asian session.
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