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Attention turns to the BoE

FOREX
  • AUD is the worst performer in G10 against the Dollar, a continuation from the Australian inflation coming below expectation, but also saw some follow through in early trade, on the broader Dollar bid, as European Equities fell, as Bank stocks came under pressure, following some of the moves in local Banks in the US open Yesterday.
  • AUDUSD has now broken the January and the December low, and targets 0.6500, which is the 61.8% retrace of the Oct/Dec rally.
  • USD is up against all G10s, besides the Yen that sits just 0.07% up, but JPY has retained gains of 0.58% in the past 5 days.
  • NOK is the second worst performer, but continues to find support at the 10.5643, the January high in USDNOK, printed a 10.5673 high.
  • The broader base bid in the Dollar, pushed EURUSD through its initial support of 1.0793, but has bounced off 1.0780, as Equities recovered from their lows.
  • Looking ahead, BoE and Presser are due, and out of the US, sees US IJC, ISM.
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