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Narrow Ranges In Early Trade

FOREX

The Greenback is a touch lower in early trade however ranges have been narrow and there has been little follow through on moves thus far. US Tsy Yields are a touch firmer, as are US Equity futures. WTI is up ~1% trimming yesterday's fall.

  • Kiwi is marginally outperforming in the G-10 space, NZD/USD is up ~0.1% however yesterday's high remains intact.
  • AUD/USD prints at $0.6335/40 and is unchanged from opening levels. The trend in AUD/USD remains bearish, support comes in at $0.6286, low from Oct 3 and bear trigger. Resistance is at $0.6393, high from Oct 18.
  • Yen is a touch softer however a narrow ~15 pip range has been observed thus far. At the bottom of the hour flash PMIs for October are due.
  • There haven't been any moves of note elsewhere in G-10. BBDXY is down ~0.05%.
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