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USD Marginally Firmer In Muted Asian Session


The greenback is marginally firmer in a muted Asian session, the USD firmed off early session lows and marginally extended gains after a weaker than forecast Caixin Services PMI. However ranges remain narrow with little follow through.

  • Kiwi is the strongest performer in the G-10 space at the margins. NZD/USD prints at $0.6190/95 ~0.1% firmer today, early gains were pared a touch after meeting resistance above $0.62. AUD/NZD is holding below $1.08 and is down ~0.2%.
  • AUD is marginally pressured, the pair faced resistance ahead of the $0.67 handle with losses marginally extending after the aforementioned Caixin PMI print. The pair sits at touch above session lows at $0.6685/90.
  • Yen is little changed from opening levels, ranges have been narrow with little follow through on moves.
  • Elsewhere in G-10; GBP and EUR are down ~0.1%.
  • Cross asset wise; US Tsys are a touch firmer and BBDXY is up ~0.1%. E-minis are down ~0.1%, the Hang Seng is down ~1.3%.
  • The FOMC minutes of the June policy meeting provide the highlight of todays docket. Also due are the final prints of European PMIs.

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