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Greenback Trims Post-CPI Gains

FOREX

The USD has trimmed some of its post CPI gains in Asia, BBDXY is down ~0.1%. US Tsy Yields are 1-2bps lower across the major benchmarks and E-minis are a touch firmer.

  • AUD/USD is up ~0.2%, the pair has ticked higher through the session trimming some of yesterdays ~1.5% loss. Technically The trend remains bearish, support comes in at $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance is at $0.6445, high from Oct 11.
  • Kiwi is the weakest performer in the G-10 space at the margins and is down ~0.2%, last printing at $0.5915/20 the lowest level since 5 Oct. Business NZ PMI ticked lower to 45.3 in September, this was the lowest print since August 2021.
  • Yen is little changed and USD/JPY is consolidating yesterday's gains this morning. 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 the Scandies are leading the bid however liquidity is generally poor in Asia.
  • The docket is thin for the remainder of Friday's session.
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