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USD Trims Tuesday's Losses In Early Dealing

FOREX

The greenback has trimmed some of yesterday's losses this morning, however ranges remain narrow with little follow through thus far.

  • AUD/USD is ~0.1% lower this morning and last prints at $0.6785/90. Resistance is at $0.6847, Jul 20 high, support comes in at $0.6719 the 50-Day EMA.
  • Kiwi is also a touch lower, however narrow ranges are persisting. NZD/USD prints at $0.6215/20 sitting a touch off session lows.
  • Yen is little changed, the pair is see-sawing around ¥141 handle in narrow ranges.
  • Elsewhere in G-10 CHF and NOK are down ~0.2% however liquidity is generally poor in Asia.
  • Cross asset wise; US Tsy Yields are ~1bp higher across the curve. BBDXY is up ~0.1% and e-minis are down ~0.1%.
  • The highlight of today's Asian session is Q2 CPI from Australia which crosses in ~1 hour. The print is estimated to tick lower to 1.0% Q/Q.

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