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(U1) Needle Points North


Twist Steepening On Monday


(U1) Holding Onto Gains

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After climbing throughout the session on Wednesday AUD and NZD have both given back some of their gains. AUD/USD is down 11 pips, the local COVID-19 situation continues to weigh, the locked down state of Victoria recorded 26 new cases, up from 22 the previous day. NZD/USD is down 13 pips.

  • JPY is slightly stronger, USD/JPY down 7 pips. Japanese markets will be closed over the next couple of days in observance of the Marine Day and the Health-Sports Day, which coincides with the opening of the Tokyo Olympics. There were reports that Japanese PM Suga will negotiate early deliver of 20m doses of the Pfizer vaccine.
  • Offshore yuan is slightly weaker, USD/CNH up 25 pips but the pair is holding most of its decline from Wednesday which was the best day for offshore yuan in eight weeks.
  • The greenback is slightly higher, after the infrastructure bill was thrown out of he Senate US President Biden said bipartisan infrastructure pact to come by Monday.