Kiwi Firms In Asia

The kiwi is the strongest performer in the G-10 space at the margins in Asia today, firming after a stronger than forecast Yuan fix by the PBOC boosted sentiment.

• NZD/USD prints at $0.6150/55, the pair is ~0.4% higher today and sits a touch above the 20-Day EMA ($0.6141) which has provided resistance in recent sessions.
• The AUD has erased early losses of as much as 0.3% to deal little changed. Pressure came as Australian yields fell as Tuesday's RBA meeting came into view before paring losses as risk appetite improved through the session.
• Yen is marginally pressured, USD/JPY is up ~0.2% however the pair remains well within recent ranges. The Q2 Tankan Survey signalled stronger Q2 growth and cooler inflation.
• Elsewhere in G-10; NOK and SEK are ~0.2% firmer, however liquidity is generally poor in Asia. EUR and GBP are little changed.
• Cross asset wise; US equity futures are little changed, regional equities are firmer and the Hang Seng is up ~1.7%. BBDXY is down ~0.1% and US Tsy Yields are little changed thus far.
• There is a thin docket in Europe today, further out we have the latest ISM Survey.