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Antipodeans Trim Monday's Gains

FOREX

The Antipodeans are marginally pressured in early dealing, trimming yesterdays China-led gains. Elsewhere in G-10 moves have been limited with little follow through.

  • Kiwi is the weakest performer in the G-10 space at the margins. NZD/USD is down ~0.2% and sits below the $0.62 handle last printing at $0.6190/95. The pair is unwinding some of yesterday's outperformance.
  • AUD/USD is down ~0.2%, the pair last prints at $0.6725/30. Support comes in at yesterday's low ($0.6712), resistance is at the high from July 21 ($0.6788).
  • Yen is little changed, USD/JPY has observed a narrow range thus far. Resistance comes in at ¥142.08, 61.8% retracement of the Jun 30 to Jul 14 downleg. Support is at the low from Jul 21 ¥139.75.
  • Cross asset wise; BBXY is little changed thus far and US Tsy Yields are a touch lower across the curve. US Equity futures are marginally pressured.
  • There is a thin docket today, rate decisions from the Fed, ECB and BOJ later in the week are coming into view and provide the highlight this week.

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