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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

FOREX
  • After consolidating Non-Farm Payroll losses for much of the Asia and European sessions, the greenback gradually retreated during US hours on Monday.
  • With very little in the form of market moving headlines, steady supply led the dollar index through Friday's worst levels and back below 90.00 to post 0.2% losses on the day.
  • Most G10 counterparts were beneficiaries with Aussie and Kiwi relative outperformers gaining around 0.35%. EUR, GBP, JPY and CAD all strengthened around 0.2% mirroring broader dollar sentiment.
  • Despite the slightly softer oil prices, the Norwegian Krona led gains, firming 0.65% against the dollar. NOK strength may have been supported by Health Ministry headlines shortening the interval between vaccine doses, providing optimism for the herd immunity timeline.
  • CNH slightly underperformed on the day overall, following the slight miss in trade data released overnight.
  • German ZEW headlines the docket on Tuesday, however, markets will eagerly anticipate the release of US CPI on Thursday. Also on the week's agenda are monetary policy decisions/statements from the Bank of Canada and the ECB.
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com