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Dollar Little Changed In Early Trade

FOREX

The USD is little changed in early dealing on Monday. Ranges have been narrow with little follow through on moves.

  • AUD is a touch pressured, AUD/USD is down ~0.1% however a narrow ~20 pip range has persisted. Judo Bank Mfg PMI rose to 49.6 in June, Services PMI fell to 48.0 from 50.3. The Composite PMI printed at 48.3 falling from 50.1 prior. AUD/USD sits a touch above the 50-Day EMA ($0.6719), resistance comes in at $0.69.
  • Yen is marginally firmer, however USD/JPY is operating in a ~15pip range in early dealing. Support comes in at ¥137.25, low from July 14 and resistance is at ¥141.96 Friday's high.
  • Kiwi is little changed, NZD/USD prints at $0.6170/75 little changed from opening levels.
  • Elsewhere in G-10 SEK is down ~0.2% however liquidity is generally poor in Asia.
  • Cross asset wise; e-minis and BBDXY are relatively unchanged from opening levels. WTI has pared Friday's gains and is down ~0.5%.
  • The docket is thin in Asia today with just Japanese PMIs due shortly, further out we have preliminary PMIs from Europe and the US.
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