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Kiwi Pressured In Asia

FOREX

The Kiwi has been pressured on Tuesday after Q3 CPI, NZD/USD is down ~0.4% and sits a touch above the $0.59 handle. Technically we remain in a downtrend, bears look to break the YTD low at $0.5860. AUD/NZD is ~0.6% firmer, bulls now target a move above the $1.08 handle and 200-Day EMA ($1.0822).

  • Elsewhere in G-10; AUD/USD is up ~0.2% and sits at $0.6350/55. The pair firmed post the RBA minutes, the bank noted that it had considered two options at the October meeting hiking or staying on hold. The option to stay on hold provided the more compelling case with the updated forecasts and data available ahead of the November meeting.
  • Yen is a touch softer however ranges have been narrow thus far. Resistance in USD/JPY remains at ¥150.16, Oct 3 high and bull trigger. Support is at the 20-Day EMA (¥148.74).
  • EUR and GBP are marginally lower and BBDXY is up ~0.1%.
  • US Tsy Yields are a touch firmer across the curve. US Equity Futures are lower, e-minis are down ~0.2%. Oil is a touch lower.
  • In Europe today we have the UK Earnings Data and the latest ZEW Survey from Germany.

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