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Narrow Ranges In Asia

FOREX

There have been narrow ranges across G-10 FX on Friday, BBDXY is marginally lower however there have been little follow through on moves. US Tsy Yields are marginally lower in Asia trimming gains seen in yesterday's NY session and US Equity futures are a touch softer.

  • AUD/USD is down ~0.1% at $0.6360/65, post SoMP losses have been pared. The statement didn't appear to shed much light on the outlook for the economy. Technically the pair has breached the 20-Day EMA and support now comes in at $0.6315, low from Oct 31.
  • Kiwi is dealing in a narrow range below the $0.59 handle. On the wires early in todays session was BusinessNZ Mfg PMI for October which printed at 42.5 this morning, the prior read was revised lower to 45.1. This is the lowest reading since August 2021 and marks the 8th consecutive month of contraction.
  • Yen is unchanged this morning. USD/JPY prints at ¥1.151.30/35. Technically bulls remain in the drivers seat, resistance comes in at ¥151.72 high from Oct 31.
  • September GDP and Industrial Production from the UK provides the highlight in Europe today.
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