Trial now

Pullback Considered Corrective


Holding Above Recent Lows


BLOCK, Large 3Y Midcurve Put Condor

FOREX: FX markets took a breather ahead of a heavy data schedule this week. with
the DXY drifting lower for most of the day before recovering late on to close
stronger as US yields pushed higher.
 - ECB Villeroy remarks that said QE could end in Sep or Dec and a change in
rates could come quarters and not years after, set the tone. EURUSD squeezed
$1.1998 in early NY before fading. the 200-dma remains key resistance at
- GBPUSD extended its recovery off last week's pullback lows of $1.3460 to make
a brief show above $1.3600 before fading late on in line with dollar strength. 
- The failed to join in with EUR and GBP strength early on instead gradually
weakening throughout the day. 
- NZD was the big underperformer in the G10 with losses of 0.74% as AUDNZD
continued its rally to trade above the 200-dma (NZ$1.0884) at the close.