Free Trial

Muted Asian Session With FOMC In View

FOREX

There has been a muted Asian session across G-10 FX, there was little follow through on moves and ranges have been narrow.

  • Kiwi has pared gains of as much as ~0.3% to sit little changed from opening levels. NZD/USD is holding onto recent gains and is consolidating above the 20-Day EMA.
  • AUD/USD is flat however a ~20pip range has persisted for the most part. Technically the trend in AUD/USD remains bearish. Support comes in at $0.6357, low from Sep 6 and bear trigger. Resistance is at $0.6481, high from Sep 4.
  • Yen is little changed from opening levels, August Trade Balance was wider than expected however there hasnt been much reaction in FX. Technically the trend needle points north. Immediate focus for bulls is the Sep 15 high (¥147.95), the next resistance level comes in at ¥148.40 (high from 4 Nov 2022). Support is at ¥145.91, low from Sep 11.
  • Elsewhere in G-10 NOK is mildly pressured however liquidity is generally poor in Asia.
  • The highlight of todays session is the FOMC rate decision and press conference.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.