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Muted Start Across G-10 FX

FOREX

There has been a muted start across G-10 FX on Friday, moves have been limited with little follow through. BBDXY is unchanged from yesterday's closing level.

  • AUD/USD is holding above $0.67 in early dealing, after falling ~1% yesterday. Resistance comes in at $0.6818 high from May 10 and support is at $0.6689 yesterday's low.
  • Kiwi is little changed this morning, NZD/USD is a touch below the $0.63 handle. There was little reaction to April BusinessNZ Manufacturing PMI which printed at 49.1 ticking higher from 48.1 prior.
  • USD/JPY has dealt in a narrow ~20 pip range this morning with little follow through on moves. Support is at ¥133.50 low from May 4 and resistance is at ¥135.47 high from May 10.
  • Cross asset wise e-minis are ~0.1% firmer and US Treasury Yields are ~1bp lower across the curve. WTI futures are ~0.7% firmer.
  • There is a thin data calendar for the remainder of the Asia-Pac session. Further out we have preliminary print of Q1 UK GDP and the UofMich Consumer Sentiment.
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