December 01, 2022 10:23 GMT
Dovish Powell keeps the lid on USD
- Although off its best levels, the Yen has continued to extend gains, with the Dollar down 1.26% at the time of typing, after being down 1.5% earlier.
- Lower US Yield and Risk on tone following a Dovish Powell yesterday, has kept the pressure on the USD, but off its worst levels.
- Equities and Govies faded off their overnight and opening highs.
- This was more of an unwind during the morning European session.
- Worth keeping an eye on the Pound and Cable, testing the 200SMA at 1.2155, printed a 1.2155 so far today.
- AUDNZD is also trading at its lowest level since March after breaking through the initial support at 1.0743, printed a 1.0728 low, ahead of next support area at 1.0694.
- Looking ahead, US final Manufacturing PMI, US PCE core deflator, and ISM Manufacturing are the notable releases for this afternoon.
- Speakers are, Fed Dobbeck, Logan, Bowman, Barr, and ECB Lane.