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USD Little Changed In Asia

FOREX

The greenback is little changed in Asia today, for the most part ranges in G-10 FX have been narrow with little follow through on moves.

  • Yen is ~0.2% firmer, USD/JPY briefly dealt through Mondays highs in early dealing as Japanese data was a touch weaker than expected. Resistance was seen above Monday's high and we now sit below the ¥135 handle.
  • Kiwi is little changed from opening levels, NZD/USD was down as much as 0.3% however losses were pared through the session and the pair sits at $0.6335/40. Apr Card Spending rose 1.0% M/M, the prior number was revised downwards to 2.3% M/M from 3.1% M/M. Retail Card Spending held steady in April at 0.7% M/M.
  • AUD/USD is unchanged from Mondays closing levels, the pair has observed a narrow range with little follow through. Q1 Retail Sales printed in line with expectations.
  • Cross asset wise; e-minis are little changed and US Treasury Yields are 1-2bps lower across the curve. Bloomberg Commodity Index is down ~0.3% as it pares Monday's 0.7% gain.
  • There is a thin docket for the remainder of Tuesday's session, the focus data wise now switches to Wednesdays US CPI print.

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