Narrow Ranges In Early Dealing

The USD has observed narrow ranges in early dealing on Friday, there has been little follow on moves thus far. E-minis and US Tsys are trimming yesterday's post CPI losses. Oil is a touch higher.

• AUD/USD is a touch firmer last printing at $0.6315-20. 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 $0.6445, high from Oct 11.
• Kiwi is the weakest performer in the G-10 space at the margins and is down ~0.1%. Business NZ PMI ticked lower to 45.3 in September, this was the lowest print since August 2021. Card Spending fell 0.1% M/M in September, the prior read was revised lower to 0.8% M/M from 0.9%.
• Yen is little changed and USD/JPY is consolidating yesterday's gains this morning. 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.
• Elsewhere in G-10 the Scandies are leading the bid however liquidity is generally poor in Asia.
• Official CPI and PPI data from China headlines the Asian session today and crosses in just over one hour. CPI is expected to tick higher to 0.2% Y/Y and PPI is also expected to tick high albeit remaining in negative territory at -2.4% Y/Y.