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USDCAD TECHS

Corrective Cycle

GLOBAL POLITICAL RISK

Vaccination Willingness Rises As Efficacy Proved

AUDUSD TECHS

Bearish Price Structure

US TSYS SUMMARY

Yld Bounce Stalls

EURJPY TECHS

Trend Signals Remain Bearish

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A more subdued session in FX and across assets as we close out the week.

  • The Dollar trades in the red against all G10s on "risk on" as most Fed speakers suggest that Inflation will be temporary, and some move forward on US infrastructure plan.
  • The Pound is the only currency down since the BoE yesterday.
  • The Kiwi leads gains, up 0.21% versus the USD, while the GBP trades at -0.09%.
  • EUR is also mixed and widely range bound, and also leading against the GBP, up 0.19%.
  • EURGBP has again tested trendline circa 0.8592, traded 0.85944 high.
  • Some market participants will look at 0.8602 June 21st high next.
  • But initial upside target is still at 0.8624, the 100d MA, not broken since 11th January.
  • USD tested session low versus JPY, EUR, CNY, CAD, AUD, SEK, NOK, PHP, SGD, but well within past ranges.
  • Looking ahead, focus will turn the US PCE deflator, US Personal spending/income, and final Michigan.
  • Speakers, include ECB de Cos, US Fed Kashkari, Mester, Rosengren and Williams.