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Narrow Ranges Across G-10 In Early Trading

FOREX

There has been narrow ranges across G-10 FX in early trade, with little follow through on moves thus far. In the cross asset space WTI is down ~1% as discord within OPEC+ forced the group to delay an upcoming meeting. US Cash Tsys have reopened and are ~4bps firmer. BBDXY is little changed.

  • AUD/USD is ~0.1% firmer last printing at $0.6565/70. Technically the trend needle points north, resistance comes in at $0.6589 high from Nov 21. Support is at $0.6453, low from Nov 17.
  • Kiwi is a touch higher however NZD/USD has observed a $0.6045/55 range thus far. On the wires this morning Q3 Retail Sales ex Inflation printed at 0.0% Q/Q, the prior read was revised a tick higher to -0.9% Q/Q. A fall of 0.7% had been expected.
  • Yen is little changed from opening levels and has looked through this morning mixed CPI print. Flash PMIs cross at the bottom of the hour.
  • Elsewhere in G-10 there are no moves of note to report.
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