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Greenback Marginally Lower In Early Trade

FOREX

The USD is a touch lower in early dealing, however ranges remain narrow with little follow through on moves.

  • Yen is firmer, USD/JPY is down ~0.1% last printing at ¥139.50/60. Japanese trade balance for June was on the wires a short time ago, a surplus of ¥43.0bn was printed. A deficit of 46.7bn had been expected. Support comes in at ¥137.25, low from Jul 14. Resistance is at ¥139.99 high from Jul 19.
  • AUD/USD is firmer, last printing at $0.6775/80. The AUD has firmed alongside e-minis rising off session lows. Resistance comes in at $0.69, high from June 16. Support is at $0.6754 the low from Jul 19.
  • Kiwi is also a touch higher however a ~10 pip range has persisted for the most part today.
  • Cross asset wise; US Equity futures are pressured albeit off session lows. Netflix is lead US Equities lower in post market trade after sales missed Wall St estimates. BBDXY is down ~0.1% and US Tsy Yields are little changed.
  • In Asia today the June Labor Market Report from Australia provides the highlight. The print is due in just under 90 minutes, a jobs gain of 15.0k is expected with the unemployment rate holding steady at 3.6%. Further out we have German PPI and US Initial Jobless Claims.
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