Dollar Marginally Pressured In Asia

The USD has been marginally pressured in Asia today as risk sentiment improves, US Equity Futures are higher and US Tsy Yields have ticked lower. There was another strong Yuan fixing by the PBOC which also weighed on the greenback.

• AUD is the strongest performer in the G-10 space at the margins, stronger metals are aiding the AUD outperformance. SGX Iron Ore Futures are up ~1.4%, and are ~13% above levels seen last week. Resistance comes in at $0.6480, high from Aug 16.
• Kiwi is lagging in the space, NZD/USD has trimmed an earlier ~0.3% gain to sit up ~0.1%. Bulls look to regain the $0.60 handle to target the 20-Day EMA ($0.6039). Q2 Retail Sales were softer than expected, adding to concerns about the domestic economy.
• The Yen is firmer benefiting from lower US Tsy Yields, USD/JPY is ~0.2% lower and last prints at ¥145.65/70. Technically the uptrend in USD/JPY remains intact, resistance comes in at ¥146.56 (Aug 17 high) and ¥146.93 (8 Nov 22 high). Support comes in at ¥144.93 (low from Aug 18).
• Elsewhere in G-10, EUR and GBP are up ~0.1%.
• Cross asset wise; e-minis are ~0.3% firmer and BBDXY is down ~0.1%. 10 Year US Tsy Yields are ~2bps lower.
• Flash PMIs from France, Germany and the Eurozone provide the highlight in todays European session.