Free Trial

Antipodeans Pressured In Early Trade

FOREX

The Antipodeans are pressured in early dealing on Friday. Lower US Equity Futures are weighed on risk sentiment. US Tsy Yields are little changed and BBDXY is marginally firmer.

  • Kiwi is the weakest performer in the G-10 space down ~0.2% a touch above YTD lows, last printing at $0.5830/35. Downside support now comes in at $0.5812, low from 19 Oct, the $0.58 handle and $0.5719 a Fibonacci projection.
  • AUD/USD is down ~0.2% at $0.6315/20. Technically the outlook remains bearish, support comes in at $0.6286 Low Oct 3 / 13 and the bear trigger. Upside resistance is seen at $0.6393 High Oct 18.
  • Yen is little changed looking through a mixed September CPI report. Attention is on the 150.00 handle and the recent 150.16 high (Oct 3). A clear break of 150.00 would reinforce bullish conditions and open 150.40, a Fibonacci projection. On the downside, a breach of 147.43, Oct 3 low, would be an important bearish development.
  • Elsewhere in G-10 GBP and CHF are lower however liquidity is generally relatively poor in the Asian session.
  • The docket is thin for the remainder of todays session.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.