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Yen, Kiwi Marginally Firmer In Early Trade

FOREX

The Yen and the NZD are marginally firmer this morning, elsewhere in G-10 ranges are narrow with little follow through on moves.

  • USD/JPY is ~0.2% lower last printing at ¥138.30/40. The pair is paring some of yesterday's gains after printing a YTD high yesterday. Japan's April Core-Core CPI rose at its fastest annual pace since Sept 1981, core CPI and headline CPI printing in line with estimates. More on the print here.
  • Kiwi is firmer this morning, widening rate differentials and a trade surplus in April have seen NZD/USD rise ~0.2%. The 200-Day EMA ($0.6258) presents as the first target for bulls, a break through here opens high from May 11 ($0.6385).
  • AUD/USD is ~0.1% higher however a narrow ~15pip range has been observed thus far and we sit a touch beneath session highs.
  • Cross asset wise; e-minis are ~0.1% higher and BBDXY is a touch softer. US Treasury Yields are little changed across the curve.
  • There is a thin docket in Asia today, further out German PPI the highlight of an otherwise thin calendar.
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