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Narrow Ranges In Asia

FOREX

The greenback has observed narrow ranges in Asia for the most part with little follow through on moves today.

  • Kiwi is the weakest performer in the G-10 space at the margins. NZD/USD is down ~0.2% and is holding softer despite a recovery off session lows in regional equities and US equity futures.
  • AUD/USD is a touch lower, down ~0.1%. The pair sits a touch above lows seen in yesterday's NY session and last prints at $0.6770/75. Support comes in at $0.6754, the low from 19 July.
  • The Yen has pared post CPI gains and USD/JPY sits above the ¥140 handle. June's National CPI printed showing a uptick in headline CPI to 3.3% Y/Y from 3.2%. The Core measure was as expected at 3.3% Y/Y as was the core-core at 4.2% Y/Y.
  • Elsewhere in G-10, EUR and GBP are marginally firmer however moves have been limited in Asia.
  • Cross asset wise; US Tsy Yields are ~1bp lower across the curve. BBDXY is little changed and e-minis are a touch firmer having been down ~0.2% in early trade.
  • There is a thin docket today with UK and Canadian Retail Sales providing the highlights.
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