Free Trial

Narrow Ranges Across G-10 In Asia

FOREX

There has been narrow ranges across G-10 FX in muted pre-US holiday trade in Asia today. The cross asset space remains muted; US Tsy Yields are marginally higher and e-minis are unchanged. Details of an Israel/Hamas hostage deal crossed however there was little reaction in FX.

  • USD/JPY is ~0.1% lower and sits a touch above the ¥148 handle. Technically there is a short term bearish trend for USD/JPY. Support comes in at ¥147.15, Nov 21 low, and ¥146.00, trendline support drawn from Mar 24 low. Resistance is at ¥149.16, 50-Day EMA.
  • Kiwi is a touch softer, however a narrow $0.6040/60 range has been observed in Asia.
  • AUD/USD is little changed from opening levels. Westpac Leading Index for October printed at -0.03%. Technically the latest rally has resulted in a clear break of former resistance at $0.6522, the Aug 30 and Sep 1 high. Resistance now comes in at $0.6616, High Oct 8. Support is at $0.6453, Low Nov 17.
  • There is a thin docket in Europe on Wednesday with no data releases of note, the highlight is the UK Autumn Statement from Chancellor Hunt.

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.