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USD Firms In Asia

FOREX

The greenback is firmer in Asia, paring some of Friday's post NFP losses. Inflation data from China was weaker than forecast which weighed on risk sentiment in the Asian session, seeing the USD firm from session lows and US equity futures fall from session highs alongside regional equities.

  • Kiwi is the weakest performer in the G-10 space, NZD/USD is down ~0.5%. The pair has broken below the $0.62 handle and last prints at $0.6180/85. Bears look to sustain a break of $0.62 to target the 20-Day EMA ($0.6163).
  • AUD/USD is also pressured, the pair is down ~0.4% and last prints at $0.6660/65. The pair remains well above support at $0.6596 the low from June 29.
  • Yen has also fallen, giving back some of Friday's outperformance. USD/JPY is up ~0.4%, we remain under the ¥143 handle for now, last printing at ¥142.75/85. Resistance comes in at ¥145.07, June 30 high and bull trigger. Support is at ¥142.11, the 20-Day EMA.
  • Elsewhere in G-10, EUR is down ~0.1% as the broad based US strength weighs. GBP is down ~0.2%.
  • Cross asset wise; e-minis are down ~0.3% and the Hang Seng is up ~0.8% having been up over 2% in early dealing. BBDXY is ~0.2% firmer, and the US Tsy curve is marginally steeper.
  • There is a thin docket on Monday, the next macro risk event is on Wednesday when the latest US CPI figures cross.
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