AUD Pressured In Asia

The AUD is the weakest performer in the G-10 space at the margins on Tuesday. After weakening post the RBA-minutes AUD extended losses as risk off flows weighed.

• Support at $0.6810, high from May 10, was breached and the AUD/USD prints a touch above $0.68. Iron Ore and Copper are weaker also weighing on the AUD. The next support level is $0.6727 the low from 12 June.
• Kiwi is also pressured, NZD/USD is down ~0.4%. The pair sits a touch above session lows, bears target the 20-Day EMA at $0.6159.
• Yen is marginally firmer, USD/JPY briefly dealt about ¥142 handle before paring gains and grinding lower through the session. The pair last prints at ¥141.70/80.
• Elsewhere in G-10, NOK and SEK are both down ~0.4% however liquidity for both is generally poor in Asia.
• Cross asset wise; e-minis are ~0.2% lower and the Hang Seng is down ~1.6%. BBDXY is up ~0.1%. The Bloomberg Commodity Index is down ~0.4%.
• The data calendar is light today, German PPI headlines in Europe. Further out we have US Housing Starts and Philadelphia Fed Non-mfg Index.