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Greenback Steady In Asia

FOREX

The USD is little changed in Asia, for the most part ranges have been narrow with little follow through on moves. The US Tsy Curve has flattened, and US Equity Futures are a touch firmer.

  • Kiwi is pressured and is the weakest performer in the G-10 space at the margins. NZD/USD has trimmed yesterdays gains sitting at $0.6030/35 down ~0.3%.
  • AUD/USD is also lower, however the pair has observed a narrow range for the most part. Technically the outlook remains bearish, support comes in at $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance is at $0.6501, high from Sep 29.
  • Yen unwound early gains and now sits little changed from opening levels. The pair is still in an uptrend, key support is at ¥147.43 the low from Oct 3 and resistance is at ¥150.16 high from Oct 3 and bull trigger.
  • Elsewhere in G-10, EUR and GBP are a touch firmer however ranges have been narrow.
  • In Europe today we have the final read of September CPI from Germany, and ECB 1- and 3-Year Inflation Expectations for August.
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