FOREX: Muted Start on Wednesday

There has been a muted start across G-10 FX on Wednesday, ranges are narrow with little follow through on moves. The Antipodeans have been marginally pressured and the Yen is a touch firmer.

• Kiwi is down ~0.1%, NZD/USD is paring gains seen in the NY session as the USD trimmed earlier gains. The pair sits at the base of the ~10 pip range observed thus far.
• AUD/USD is down ~0.1% also, a narrow range $0.6530/45 has been observed thus far. 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).
• 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).
• Cross asset wise; e-minis have erased an early drop and now sit ~0.1% firmer. US Tsy Yields are ~2bps lower across the curve.
• In Asia today official CPI & PPI data from China provide the highlight. CPI is expected to print at -0.4% Y/Y and PPI at -4.0% Y/Y.