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Narrow Ranges To Start The Week In Asia

FOREX

There has been narrow ranges across G-10 FX in early dealing on Monday, Oil and Tsys are ticking lower with US Equity Futures moving higher however there has been limited spillover to FX thus far.

  • AUD/USD is a touch firmer at $0.6340/45. At the bottom of the hour September Retail Sales are due, a rise of 0.3% M/M is expected. Technically the trend remains bearish, support comes in at $0.6270 Oct 26 low. Resistance is at $0.6411 the 50-day EMA.
  • Kiwi is little changed and ranges have been narrow thus far with NZD/USD operating in a $0.5810/20 range.
  • Yen is marginally pressured however we are holding below the ¥150 handle. Technically bulls remain in the drivers seat, resistance is at ¥151.09 2.764 projection of the Jul 14-21-28 price swing. Support comes in at the 20-Day EMA (¥149.46).
  • Elsewhere in G-10 GBP and EUR are a touch lower.
  • The next major macro event is tomorrow's BoJ monetary policy decision.
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