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AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

FOREX

A degree of caution crept into G10 FX space, with most currency pairs happy to hold tight ranges amid little in the way of fresh catalysts crossing the wires. The DXY moved away from its monthly low of 92.00, but remains poised for a weekly loss after crossing below its 200-DMA a couple of days back.

  • USD/JPY wavered around neutral levels, ahead of today's expiry of $1.55bn of options with strikes at Y109.15 & $1.1bn of USD puts with strikes at Y109.25-50.
  • AUD brought up the rear in the G10 basket as the gov't released guidance advising against inoculating under 50s with the AstraZeneca product & NSW temporarily suspended vaccinations with the jab. Elsewhere, the RBA's FSR flagged that regulators are closely monitoring house-price growth.
  • The PBOC set its central USD/CNY mid-point at CNY6.5409, 14 pips below sell side estimates. The redback looked through China's above-forecast CPI & PPI prints. USD/CNH oscillated around neutral levels, sticking to yesterday's range. Implied USD/CNH volatilities fell across the curve, with 1-month tenor seen at its lowest levels since Jul 2020.
  • German industrial output, Canadian unemployment, Norwegian CPI and central bank speak from Riksbank's Ingves & Breman, ECB's de Guindos & Fed's Kaplan take focus today.