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Risk Off Flows In Asia; AUD, NZD Pressured, Yen Firmer

FOREX

Risk off flows have been evident in Asia, weighing on the Antipodeans and boosting the Yen. Concerns over falling Oil prices, China's debt burden and a weak JGB auction all weighed on sentiment today.

  • The Yen is the strongest performer in the G-10 space at the margins. USD/JPY is down ~0.4% and has breached the ¥147 handle. Support comes in at ¥146.23, low from Dec 4, and the bear cycle has resumed. Resistance is at ¥148.51, Nov 30 high.
  • AUD/USD is down ~0.2% and sits at the lowest level since 22 Nov, the 20-Day EMA ($0.6547) has been breached. The next support level is $0.6488, the 50-Day EMA.
  • Kiwi is also pressured, NZD/USD is down ~0.2% however the pair is holding above the $0.61 handle for now.
  • Elsewhere in G-10 flows have been muted thus far.
  • Cross asset wise; WTI has pared some of yesterday's losses and is up ~0.6%. The Hang Seng is down ~1.5% and e-minis are flat. US Tsy Yields are ~3bps higher across the curve.
  • Coming up in Europe we have German Industrial Production.
Energy BulletsCommodities
Energy BulletsCommodities

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