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A red start for the Dollar, new record highs in Equities

CROSS ASSET
  • A red start for the Dollar going into the European session following the FOMC Yesterday, after Fed Powell said that it was appropriate to start easing at some point.
  • Although price swings were more contained in long end Bonds (Treasuries), Short term interest rates trade near a 5 days high, as Investors look to price the first rate cut.
  • Most notable price action was and is still in Equities, with SPX and the Dow registering new record high, while NDX was still somewhat short Yesterday.
  • This morning Emini (ESM4) is seeing further upside continuation to fresh record highs.
  • Best early performer in G10 FX is the Aussie following a beat in the Australian Employment, and most desks will be looking at 0.6668 for initial resistance, the March high in AUDUSD.

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