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USD Marginally Pressured In Early Trade

FOREX

The greenback is marginally pressured on Friday in Asia, however moves have been limited with little follow through thus far.

  • Kiwi is up ~0.2%, NZD/USD sits a touch below yesterday's highs which remain intact for now. Bulls now target a break above high from 5 April ($0.6379), which opens year to date highs at $0.6538.
  • AUD/USD is ~0.1% firmer, we sit a touch below the 50-Day EMA ($0.6708). Support comes in at $0.6621 low May 3.
  • Yen is firmer however ranges are narrow with little follow through.
  • Elsewhere in G-10 NOK is ~0.2% however liquidity is generally poor in Asia-Pac.
  • Cross asset wise; e-minis are ~0.2% firmer and BBDXY is down ~0.1%. 10 Year US Treasury futures are a touch firmer from opening levels.
  • Coming up the main focus points for local participants will be the RBA Statement on Monetary Policy and the China Caixin Services PMI print. Further out this evening's NFP print is the headline today.

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