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USD Marginally Lower In Asia

FOREX

The greenback is sitting a touch lower in Asia today, BBDXY is down ~0.1%, ranges remain narrow with little follow through on moves.

  • AUD is the strongest performer in the G-10 space at the margins, AUD/USD is ~0.2% firmer however we sit a touch below session highs. Technically AUD bears remain in the driver seat, support comes in at $0.6497 (low from Aug 8) and $0.6485 (low from Jun 1).
  • Kiwi is ~0.1% firmer, gains briefly extended after 2-Year Inflation Expectations rose in Q3 however the move didn't follow through and we sit at $0.6075/80.
  • Yen is firmer, however only marginally and a narrow range is persisting this morning. Bullish conditions remain intact, resistance comes in at ¥144.20 (high from Jul 7) and ¥145.07 (high from 30 Jun and bull trigger).
  • Elsewhere in the G-10 space; EUR is up ~0.1% as is CHF. GBP is marginally lagging, sitting little changed from opening levels.
  • Cross asset wise; e-minis are a touch firmer, the Hang Seng is little changed having pared an early ~0.6% loss. US Tsy Yields are little changed across the curve.
  • The docket is thin on Wednesday, Thursday's US CPI print is the next macro risk event for G-10 FX.

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