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Commodity-tied FX Stabilises After Last Week's U-Turn

FOREX

Having traded among the poorest in G10 FX late last week, commodity-tied currencies are more stable, with AUD, NZD and CAD rebounding off recent lows.

  • Markets continue to keep a close eye on volatility in government bond yields, with the RBA one of the first central banks to respond, having upped their bond purchase size to combat a recent rise in the front-end of the curve. Global stock markets are similarly more stable, with continental equities higher by close to 2% ahead of the NY crossover.
  • Meanwhile, haven currencies are offered, with the CHF and JPY close to the bottom of the G10 pile. USD/CHF is now nearing the 200-dma after hitting new multi-month highs this morning.
  • Focus turns to prelim German CPI data and February US ISM manufacturing numbers. Fedspeak should garner more interest, with speeches due from Fed's Brainard, Williams, Bostic, Mester and Kashkari. The ECB President Lagarde is also due, speaking in front of the German Association of SMEs.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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