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Muted Start Across G-10 FX

FOREX

There has been a muted start across G-10 FX, ranges have been narrow with little follow through on moves thus far.

  • AUD/USD is a touch lower this morning, the pair traded through its bear trigger yesterday. The trend condition remains unchanged and support now comes in at $0.6287, 2.000 projection of the Jun 16-Jun 29-Jul 13 price swing.
  • Kiwi is little changed this morning. The ANZ Business Survey for September crossed a short time ago, Business Confidence rose to 1.5, however the activity outlook fell to 10.9.
  • Yen sits little changed from opening levels, USD/JPY last prints at ¥149.45/50. The trend continues to be bullish, resistance comes in at ¥147.71, high from Oct 24 2022. Support is at ¥147.46, the 20-Day EMA.
  • Cross asset wise; BBDXY is a touch lower and US Tsy Yields are little changed. Oil is marginally firmer in early dealing.
  • Australian Retail Sales is due in just over an hour, a rise of 0.3% M/M is expected.
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