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Commodity Currencies Bid

FOREX

Commodity currencies rebounded as oil held on to gains, a quiet session in terms of economic events and news flow. Some headlines from AstraZeneca crossed the wires, the company confirmed the safety and efficacy of its vaccine, but did report slightly lower effectiveness.

Fed's Evans spoke earlier, he struck a dovish tone and said the bank would look for actual improvements in the economy before removing monetary support, he also said he was surprised 10-year rates were this low given fiscal spending plans.

  • AUD/USD is around 14 pips higher at 0.7595 while NZD/USD is 11 pips higher at 0.6972.
  • JPY pairs are weaker as the Nikkei gains in early trade, USD/JPY up 21 pips at 108.93. Japanese PM Suga confirmed that North Korea fired two ballistic missiles, which fell outside Japan's EZZ. Suga has lodged protest against the act and will discuss it with U.S. Pres Biden.
  • The PBOC fixed USD/CNY at 6.5282, 3 pips above sell side estimates. Offshore yuan is holding its declines from yesterday, USD/CNH last up 10 pips at 6.5302. The PBOC on the wires earlier said it will keep stable and moderate loan growth, while US Secretary of State Blinken said that the US would not provide allies with an ultimatum over China.
Energy BulletsCommodities
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