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Kiwi Marginally Pressured, Yen Firmer In Early Trade

FOREX

The NZD is marginally pressured in early dealing on Monday as it continues to trim some of last weeks post-CPI gains.

  • NZD/USD prints at $0.6355/60, the pair is ~1% below its high on Friday as it continues to trim post CPI gains. The Performance Services Index ticked lower in June to 50.1 from the prior read of 53.3.
  • Yen is firmer on Monday, USD/JPY is down ~0.2% marginally unwinding some of Friday's outperformance and last prints at ¥138.50/60. Resistance comes in at the high from 13 July ¥138.95, support is at ¥137.25 the low from 14 July. A reminder that
  • AUD is a touch below opening levels however ranges are narrow with little follow through on moves.
  • Cross asset wise; US Equity Futures are lower, e-minis are down ~0.2%. US Tsy futures are little changed thus far. BBDXY is also flat.
  • 1-Year MLF and monthly economic activity data from China headlines in Asia today, further out Empire Mfg from the US is the highlight of an otherwise thin docket.
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