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USD Little Changed, NFP In View


The greenback is little changed in Asia, ranges have been narrow with little follow through on moves as today's NFP print comes into view.

  • Kiwi is the strongest performer in the G-10 space at the margins as NZ Bond Yields have risen with 10-Year Yield printing its highest level since 2011. NZD/USD is up ~0.2% and last prints at $0.6165/70.
  • AUD/USD is up ~0.1%, Australia's 10-Year Yield printed its highest level since 2014 which facilitated a recovery from early session lows. Resistance is at $0.6721, the high from June 27 and support comes in at $0.6596 the low from June 29 and bear trigger.
  • Yen is marginally firmer, USD/JPY sits a touch below the ¥144 handle. On the wires this morning Labour Cash Earning rose more than expected in May, printing at 2.5% Y/Y vs 1.2% exp.
  • Elsewhere in G-10 EUR and GBP are marginally lower and BBDXY is little changed from opening levels.
  • Cross asset wise; 2 Year US Tsy Yields are ~3bps firmer and e-minis are ~0.1% lower.
  • German Industrial Production headlines in Europe. Today's highlight is the June NFP print, the MNI preview is here.

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