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Kiwi, Aussie Marginally Firm In Early Dealing

FOREX

The Antipodeans are firmer in early dealing on Thursday. After the latest meeting between President Biden and House Leader McCarthy, which McCarthy described as productive US Equity futures have firmed aiding risk sentiment in Asia. Elsewhere in G-10 moves are limited and ranges are narrow.

  • Kiwi is ~0.2% firmer, NZD/USD prints at $0.6295/0.6300. Bulls now target the high from 11 May at $0.6385, on the downside bears first look to break the low 12 May $0.6182.The ANZ Truckometer fell 2.2% in April.
  • AUD/USD prints at $0.6655/60 ~0.1% firmer. Flash Judo Bank PMIs for May crossed Services PMI fell to 51.8 from 53.8, Mfg PMI remained in contractionary territory at 48.0. The Composite measure printed at 51.2.
  • Yen is little changed and has dealt in a narrow range thus far.
  • In the equity space e-minis are ~0.3% firmer. US Treasury Yields are little changed as is BBDXY.
  • Flash PMIs from Japan are due at the bottom of the hour. Further out Eurpoean and US PMIs cross.
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