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Narrow Ranges In Asia

FOREX

The greenback has observed narrow ranges in Asia today, BBDXY briefly breached Monday's lows however losses were erased and the USD is flat. US Tsy Yields reopened lower, the 10 Year Yield is down ~17bps. Regional equities and US Equity futures are higher, WTI has trimmed yesterday's gains falling ~0.5%.

  • Yen is unchanged, USD/JPY is see-sawing around the ¥148.50 handle in narrow ranges. Technically the pair is still in an uptrend, key support is at ¥147.43 the low from Oct 3 and resistance is at ¥150.16 high from Oct 3 and bull trigger.
  • AUD/USD is up ~0.1% and last prints at $0.6415/20. Westpac consumer confidence rose 2.9% to 82 in October, the highest since April when the RBA paused its tightening cycle for the first time. Technically the trend remains bearish, support comes in at $0.6287 2.00 projection of the Jun 16-Jun 29-Jul 13 price swing. Resistance is at $0.6501, high from Sep 29.
  • Kiwi is little changed from opening levels, NZD/USD briefly breached Monday's high before paring gains. The pair last printed at $0.6020/25.
  • Elsewhere in G-10 CHF is the strongest performer in the space however liquidity is generally poor in Asia.
  • The data docket is thin today, there are a number of Fed speakers including Gov Waller and Minneapolis Fed President Kashkari.
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