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Muted Asian Session As US CPI In View

FOREX

There was a muted Asian session across G-10 FX, the greenback is a touch firmer. BBDXY is up ~0.05% however activity has been limited as participants look forward to this evening's US CPI print. The cross asset space has also been muted, US Tsy yields are little changed and e-minis are a touch firmer.

  • Kiwi is marginally lower, NZD/USD is down ~0.1% at $0.5870/75. The pair sits at the base of its daily range, a $0.5870/85 range has been observed for the most part today.
  • Yen is little changed this morning, USD/JPY fell ~0.5% from its fresh YTD in yesterday's NY session. The pair pared losses and sits at ¥151.65/70. Technically a break of yesterday's high (¥151.95) opens ¥152.20, 3.00 proj of Jul 14-21-28 price swings. Support comes in at ¥150.25, 20-Day EMA. Cross wise EUR/JPY and GBP/JPY have printed fresh multi-year highs this morning.
  • AUD/USD is marginally softer however a $0.6370/85 range has been observed for the most part in Asia. Technically a short term bull cycle remains in play, resistance is at $0.6449, high from Nov 8. Support is at $0.6330, 76.4% retracement of Oct 26 - Nov 6 rally.
  • Elsewhere in G-10 most majors are softer but only marginally so.
  • The October US CPI print is the highlight of today's session, prior to the release we have Eurozone Q3 GDP and Employment.

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