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Greenback Marginally Firmer, Moves Limited In Asia

FOREX

There have been narrow ranges across G-10 FX on Friday, with little follow through on moves thus far. In the cross asset space WTI is down ~0.8% as discord within OPEC+ forced the group to delay an upcoming meeting. US Cash Tsys have reopened after being closed for Thanksgiving and are 4-6bps firmer. BBDXY is marginally firmer.

  • AUD/USD is little changed from opening levels last printing at $0.6565/70. Technically the trend needle points north, resistance comes in at $0.6589 high from Nov 21. Support is at $0.6453, low from Nov 17.
  • Kiwi is a touch higher however NZD/USD has observed a $0.6045/55 range in Asia. On the wires early in the session Q3 Retail Sales ex Inflation printed at 0.0% Q/Q, the prior read was revised a tick higher to -0.9% Q/Q. A fall of 0.7% had been expected.
  • Yen is marginally firmer, USD/JPY is down ~0.1% however we remain comfortably above the ¥149 handle. The pair looked through this morning's mixed CPI and PMI report's. Resistance comes in at ¥150.00, the 20-Day EMA, and support is at ¥147.15, low from Nov 21.
  • Elsewhere in G-10 CAD is down ~0.1% and EUR and GBP are little changed.
  • The docket is light in Europe today, further out we have flash US S&P Global PMIs.

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