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Muted Start On Wednesday, Australia CPI On Tap


The greenback is marginally firmer in early trade however moves have been limited with little follow through.

  • AUD/USD prints at $0.6700/10 ~0.1% softer today. CPI data is due in around 45mins, the market looks for 7.2% Y/Y outcome, the prior read was 7.4% Y/Y. Resistance comes in at $0.6760 50-Day EMA, support is at $0.6625 low from 24 March.
  • Kiwi is a touch softer, NZD/USD prints at $0.6250/55. A narrow range has been observed this far, the 200-Day EMA comes in at $0.6269.
  • Yen is a touch softer, USD/JPY is above ¥131.00 handle. Resistance comes in at ¥131.76 high from Mar 27.
  • Cross asset wise BBDXY is ~0.1% firmer and E-minis are ~0.2% higher.
  • The aforementioned CPI print from Australia headlines in Asia today. Further out Pending US Home Sales provides the main point of interest in an otherwise thin data calendar.

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