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Flat going into the European session

USD
  • Similar to Govies and STIRs, G10s FX have seen very tight ranges overnight, 12 pips in EURUSD, just 14 pips in USDJPY, 11 pips in Cable, and 14 pips in AUDUSD to mention just a few pairs/crosses.
  • The early mover was the NOK, following Norway inflation coming below Consensus, but despite the early move, USDNOK has lacked momentum and is off its highs, AUD remains the worst early performer, albeit by just 0.08%.
  • The bigger picture is that the USD is flat across G10 going into the European session, only the Kiwi is up 0.17%, but is finding some small resistance at 0.6077 Yesterday's high, printed a 0.6078 high overnight.
  • Initial resistance in NZDUSD is at 0.6107.

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