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Muted Start Across G-10 FX, RBA On Tap

FOREX

The greenback is little changed in early dealing on Tuesday, ranges have been narrow across G-10 FX with little follow through on moves.

  • The AUD prints at $0.6610/15 and is a touch softer from yesterday's closing levels. Q1 Balance of Payment is on the wires in an hour or so. Resistance is seen at 50-Day EMA ($0.6654), support comes in at $0.6567 low May 31.
  • Kiwi is little changed, a narrow ~15 pip range has been observed for the most part this morning. May ANZ Commodity Prices is on the wires at the top of the hour.
  • Yen is ~0.1% firmer, USD/JPY prints at ¥139.40/50. Monday's lows remain intact thus far. Apr Labor Cash Earnings printed at 1.0% Y/Y below the expected 1.8%.
  • Elsewhere in G10 SEK is ~0.2% firmer, however liquidity is generally poor in Asia.
  • Cross asset wise; e-minis are ~0.1% lower and US Treasury Yields are little changed. WTI futures are ~0.3% softer.
  • Tuesday's Asia-Pac session is headlined by the RBA's latest monetary policy decision, the bank is forecasted to hold the cash rate steady at 3.85%. The MNI preview of the event is here:

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