Greenback Marginally Lower In Early Dealing

The USD is marginally softer in early dealing on Monday, US equity futures are a touch firmer aiding risk assets at the margins, however ranges remain narrow with little follow through on moves.

• AUD/USD is up ~0.1% and last prints at $0.6575/80. Technically bears remain in the driver seat, support comes in at $0.6514 (low from Aug 3) and $0.6485 (low from Jun 1). Resistance is at $0.6630 the high from Aug 2.
• Kiwi has firmed above the $0.61 handle and is up ~0.1% thus far today. Despite Friday's rally NZD/USD remains in a downtrend, bears target a break of the low from 3 August ($0.6061) which opens year to date lows ($0.5959). Bulls first target a break of Friday's high ($0.6133) which opens the 20-Day EMA ($0.6168).
• Yen has observed narrow ranges with little follow through on moves. The latest BOJ Summary of Opinions has crossed this morning, one member noted that adjusting YCC has inherent difficulties and that the BOJ should take account of market functioning.
• Cross asset wise; E-minis are up ~0.3% and NASDAQ futures are up ~0.4%, the flow driven sell off late on Friday has been faded in early Asian dealing. BBDXY is down ~0.1% and US Tsy Yields are a touch higher across the curve.
• There is a thin data docket on Monday, German Industrial Production for June provides the highlight.