Greenback Marginally Pressured On Firmer US Equity Futures.

The USD is marginally pressured in early trade on Wednesday as US Equity futures rise on better-than-expected earnings in the tech space from Microsoft and Alphabet as well as PacWest Q1 earnings beating expectations.

• AUD/USD is ~0.2% firmer, the pair last prints at $0.6635/40. Improving risk sentiment in today's Asian session has seen the pair pare some of Wednesday’s losses. Resistance comes in at $0.6772 high from Apr 20, support is at $0.6590 low from 15 March.
• Kiwi is also firmer, NZD/USD is up ~0.2%. The March Trade Deficit widened sharply to $1.2bn with the deterioration driven by stronger imports.
• Yen is a touch firmer, USD/JPY is ~0.1% softer last printing at ¥133.50/60. Yesterday's lows remain intact for now.
• Elsewhere in G-10 ranges have been narrow with little follow through.
• Cross asset wise BBDXY is down ~0.1% and e-minis are ~0.4% firmer. 2 Year US Treasury Yields are ~2bps higher.
• Australian CPI data headlines in Asia-Pac today, headline CPI is forecast to rise 6.9% Y/Y (Q1) and 6.5% Y/Y (March) and trimmed mean Q1 CPI is forecast to rise 6.7% Y/Y. Further out Further out Riksbank’s Monetary Policy Decision and US Durable Goods Orders will cross.