Greenback Marginally Pressured In Asia

The USD is marginally pressured in Asia, BBDXY is down ~0.1%, however ranges do remain relatively narrow thus far on Tuesday. Chinese authorities have announced measures to boost household consumption however market impact has been fairly modest.

• AUD/USD prints at $0.6825/30, the pair is ~0.2% firmer and has pared some of Mondays losses. The latest minutes showed that the RBA remains very data/forecast dependent but did have a more dovish tone with discussion of downside risks to growth and the removal of “finely balanced”.
• Kiwi is firmer, NZD/USD is up ~0.2%. The pair was supported at $0.6320 in early dealing and has firmed through the Asian session. Ranges do remain narrow with a $0.6320/40 persisting for the most part.
• Yen is also marginally firmer, USD/JPY is down ~0.1%. The pair firmed in early dealing however resistance was seen ahead of ¥139 and losses were erased. Resistance comes in at ¥140.18 the 50-Day EMA, support is seen at ¥137.25 low from July 14.
• Elsewhere in G-10 EUR and GBP are both ~0.2% higher.
• Cross asset wise; Regional Equities and US Equity futures are lower. Hang Seng is down ~2% and e-minis are ~0.2% lower. US Tsy Yields are at touch softer across the curve.
• There is a thin data calendar in Europe today, further out Canadian CPI and US Retail Sales cross.