USD Flows - despite it all, still summer drift, kiwi only thing flying
Ironic summer apathetic drift despite it all, waiting for any clear signals
Kiwi still the only mover, squeezing in the old range
Steady claims figures (initial 215k from 217k) so little to see there, presenting a broadly steady picture. Pending sales pick up but will likely prove interest rate sensitive and so very Iran dependent like a lot of factors. USTR Greer meanwhile on Fox news peddling the latest trade nonsense, saying will have results on how will 'protect against forced labour' in coming weeks. Adds that presented options to Trump on Spain (Trump did flip more positive on that issue yesterday after Spain was said to agree to more payments, and Ibex has recouped half of yesterday's multi-factor hit).
Otherwise, still a bit of a standoff and false summer drift as the market waits to see how the Iran situation plays out next. Kiwi still really the only mover, getting a decent amount of upside momentum as expected by virtue of the recovery of the prior range post RBNZ, playing to a bit of a squeeze on the prior false breakdown. 0.5750 is the obvious n/t level its been heading for , with 0.575~ retracement level above that. AUD/NZD likewise rolling off the top towards the bottom of that band at 1.2050~ and 1.2~.