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USD: A red start for the Dollar, ECB in Focus

USD
  • The Dollar was on the backfoot overnight, in the red across G10s, only the Yen was closer to flat going into the European session.
  • While we just noted the rise in Yields, the Dollar is seeing broader downside making intraday lows against the SGD, CZK, AUD, MXN, PLN, THB, EUR, GBP, ZAR, NOK, SEK, CHF, seems the latest China headline's willingness to increase trade talks with the US has provided some impetus in the move, albeit still very limited in the grand scheme of things.
  • The notable mover and the leader within G10s is the Aussie, following the Employment beat, and while AUDUSD is back above 0.6400, it is some way short of Monday's high of 0.6471.
  • The most traded pair in the World continues to stick close to that 1.0500/1.0600 range, and as mentioned this Week, there's plenty of decent size Option expiries this Week and into Monday, some Desks seems to be looking for the EURUSD to end within that range at Year end, but the ECB will be the shorter term driver, Today.
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