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Better bid in Equity keeps the lid on USD

FOREX
  • The Dollar has been offered during our European morning session, and this was a continuation from the Overnight/Asian session.
  • Equities have been the driver of cross assets this week, following the big slump on Monday.
  • Today is not different, as Equity consolidate higher, the Dollar turns offered.
  • Regardless, Equities are still far away from Friday's best levels.
  • The Greenback trades in the red against all G10s, besides the Yen, on Risk on flow.
  • Pound continues to struggle this morning, Energy risks are still weighing, EURGBP is through the initial resistance at 0.8595 High Sep 20/21.
  • And now eye 0.8614/18 High Sep 7 / 76.4% of the Jul 20 - Aug 10 sell-off.
  • The Kiwi, NOK, CAD and AUD are all leading versus the USD.
  • USDNOK has tested initial support noted at 8.6492, printed a 8.6484 low.
  • NZDUSD resistance moves down to 0.7041, followed by yesterday's high at 0.7056. So far 0.7031 is the high.
  • Looking ahead, we have no tier 1 data and all the attention is on the FOMC and presser.
Energy BulletsCommodities
Energy BulletsCommodities

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