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Greenback Little Changed In Asia, CPI In View

FOREX

The USD is little changed in Asia, ranges have been narrow with little follow through on moves.

  • Kiwi is ~0.2% firmer and is the best performer in the G-10 space at the margins. NZD/USD prints at $0.6065/70, the pair remains well within recent ranges. Bulls first look to break yesterday's high ($0.6095) and the 20-Day EMA ($0.6140).
  • AUD/USD is also up ~0.2% and last prints at $0.6535/40. Tuesday's low in AUD/USD reinforces bearish conditions, support comes in at $0.6497, the Aug 8 low, and $0.6458, low from May 31 and bear trigger. Resistance comes in at $0.6610, the high from Aug 10.
  • Yen is a touch softer, USD/JPY is marginally higher than opening levels. July PPI was softer than expected printing at 0.1% M/M vs 0.2% exp.
  • Elsewhere in G-10, GBP is marginally lower and EUR is little changed from opening levels.
  • Cross asset wise; US equity futures are firmer, a post-market rise in Disney has supported the space. The Hang Seng is down ~1%. BBDXY is flat, US Tsy Yields are a touch firmer across the curve.
  • The July US CPI print headlines today's docket, the MNI preview is here.

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