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Focus on Next Wk's FOMC, BOE Policy Announcements

JGB TECHS

(Z2) Support Remains Exposed

AUSSIE 10-YEAR TECHS

(Z2) Remains Vulnerable

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Late Equity Roundup: Late Bounce Into Triple Witching

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FOREX
  • The greenback is erasing late Thursday weakness in relatively one-directional trade in G10 this morning. The USD is comfortably the best performer so far Friday, heading into the open higher by 0.5-0.7% against most others.
  • The USD is following the US yield curve's march higher that began in late US trade and persisted throughout both Asia-Pacific and European hours. The Treasury curve is steeper, with 10y yields higher by close to 7bps and well above 1.60%. Moves follow the passage of Biden's $1.9trl stimulus bill late yesterday, with the fiscal expansion pressuring Treasuries and raising speculation that a swifter return to growth will bring sharper inflation pressure into the economic mix.
  • USD strength has pressured EUR/USD back below the $1.19 level, with GBP/USD on track to test $1.39 in the near-term.
  • Focus turns to US PPI & Uni of Michigan data as well as the Canadian jobs report for February.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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