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Early Trade Sees EUR/USD Edge Lower

CROSS ASSET
  • Early trade sees a return lower for EUR/USD, partially reversing some of the strength seen late last week off the 2021 low of 1.1524. The greenback is the best performing currency in G10 in early trade, returning the USD Index back above the 94.00 handle, although remains well off the best levels of last week at 94.561.
  • Curves are generally flattening, with US 2y, 3y yields higher by 3bps while the longer end gains 1.5-2.0bps. US 10y yield sits just below 1.6% and just shy of the October highs last week at 1.63%.
  • Chinese data was mixed overnight, with GDP growth and industrial productoin data edging below expectations while retail sales came in stronger.
  • Data points are few and far between across Europe, with focus turning to US industrial production data at 1415BST/0915ET. There are a series of CB speakers, with BoE's Cunliffe, Fed's Quarles & Kashkari on the docket, although none speak directly on monetary policy.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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