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Greenback Marginally Pressured In Early Trade

FOREX

The greenback has been marginally pressured on Friday morning, despite the absence of an overt headline driver, the move has come along with a recovery off session lows in US Tsys.

  • Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD is ~0.2% firmer and sits a touch below the $0.59 handle. Bulls target a break of the 20-Day EMA ($0.5946), which opens the high from 10 Aug ($0.6118).
  • AUD/USD is ~0.1% firmer, the pair last prints at $0.6380/85. The pairs trend condition remains bearish following Tuesday's sell off. Support comes in at $0.6357 (Sep 6 low), $0.6272 (Nov 3 low and key support). Resistance comes in at $0.6465 (20-Day EMA) and $0.6522 (high from Aug 30).
  • Yen is little changed, USD/JPY has observed narrow ranges with little follow through. The final read of Q2 GDP was softer than estimates printing at 1.2% Q/Q vs 1.4% exp.
  • Cross asset wise; BBDXY is ~0.1% lower and US Tsy Yields are ~1bp lower across the curve.
  • The docket is thin for the remainder of the Asian session today.
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