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Down for half the Year

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  • The Dollar was on the front foot overnight across G10s, some fade in Risk may have been supportive although the bigger picture is that the Dollar is down against all G10 for this Half Year, with the Yen gaining a whopping 10.27% in that period.
  • Market participants are gearing up for the first cut from the Fed this coming September.
  • For today, the Yen is the early worst performer, down 0.42% versus the Dollar with the pair back towards 146.00, after exchanging hands in another wide volatile 101 pips range going into the European session.
  • The Kiwi has given back a few pips after breaking the July high overnight, and sits as the second worst performer, all in small, down just 0.21%.
  • Support in NZDUSD moves up to 0.6083, but next resistance area to watch out for will be the ~0.6218 (Feb/March double top) and 0.6222 (June High).

Chart source: MNI/Bloomberg

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  • The Dollar was on the front foot overnight across G10s, some fade in Risk may have been supportive although the bigger picture is that the Dollar is down against all G10 for this Half Year, with the Yen gaining a whopping 10.27% in that period.
  • Market participants are gearing up for the first cut from the Fed this coming September.
  • For today, the Yen is the early worst performer, down 0.42% versus the Dollar with the pair back towards 146.00, after exchanging hands in another wide volatile 101 pips range going into the European session.
  • The Kiwi has given back a few pips after breaking the July high overnight, and sits as the second worst performer, all in small, down just 0.21%.
  • Support in NZDUSD moves up to 0.6083, but next resistance area to watch out for will be the ~0.6218 (Feb/March double top) and 0.6222 (June High).

Chart source: MNI/Bloomberg