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Greenback Pares Early Gains

FOREX

The USD has pared early gains seen this morning as conflict between Hamas and Israel saw a bid in safe havens in early dealing. The greenback firmed alongside JPY, CHF, US Tsys and Oil.

  • AUD/USD has pared a 0.6% loss and now sits down ~0.2% last printing at $0.6370/75. Technically the pair remains bearish, support comes in at $0.6287, 2.00 projection of the Jun 16-Jun 29-Jul 13 price swings. Resistance is at $0.6399 the 20-Day EMA.
  • Kiwi has marginally pared losses, NZD/USD was down as much as ~0.4% and now sits ~0.3% lower at $0.5970/75 as the pair consolidates above the 20-Day EMA ($0.5948).
  • Yen is holding its early gains dealing in a narrow range for the most part a touch above the ¥149 handle. The uptrend in USD/JPY remains intact, resistance is at ¥150.13 the high from Oct 3 and bull trigger.
  • Elsewhere CHF is a touch firmer, NOK is up ~0.3% however liquidity is generally poor in Asia.
  • Cross asset wise; US Equity Futures are pressured, e-minis are down ~0.7%. WTI is up ~4% sitting a touch below $86/barrel. US Tsy futures have pared early gains but sit firmer.
  • The docket is thin for the remainder of today's Asian session.
Energy BulletsCommodities
Energy BulletsCommodities

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