Antipodeans Outperforming, Greenback Pressured

The Antipodeans are outperforming today, there was no overt headline driver for the move although a Bloomberg piece from a top Chinese Economist noted potential for easier policy settings in Q2 aiding risk sentiment in the equity and commodity space.

• Kiwi is the strongest performer in the G-10 space at the margins, up ~0.6%. NZD/USD dealt through its 50-day EMA ($0.6337), and last prints at $0.6340/50.
• AUD/USD is ~0.4% firmer, last printing at $0.6950/60. Strength in copper (up ~0.6%) and iron ore (~1.2% firmer) are aiding the bid at the margins, along with the better tone in some equity markets.
• Yen is little changed from yesterday's closing levels. The pair was firmer in early trade, before meeting resistance at ¥131.80 before paring gains through the session.
• NOK and SEK are both ~0.3% firmer, benefiting from the improving risk sentiment.
• EUR and GBP are ~0.1% firmer vs USD.
• Cross asset flows show an improving equity picture; US equity futures are firmer (e-minis up ~0.3%) as are HK and Chinese Equities (CSI300 up ~0.7%, Hang Seng up ~0.4%). BBDXY is ~0.2% softer. 10 Year US Treasury Yields are marginally higher.
• National CPI from Germany and an appearance by BOE figures at a Treasury committee provide the highlight in Europe today. Further out Initial Jobless Claims highlight a thin NY docket.