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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%

FX SUMMARY- USD pare some gains

FOREX

A calmer start for FX as we start the week and attention turning squarely towards ECB meeting and US CPI, both released on Thursday.

  • The Dollar was mostly better bid overnight, with risk tilted to the downside, following G7 ministers agreeing on a minimum 15% corporate tax.
  • USD has given back of of its gains, as Equities edge back to flat during our morning European session.
  • NOK, SEK, AUD and JPY are trading in the Green at the time of typing.
  • AUDUSD hovers near session high at 0.7750, buoyed by S&P's rating, revising the long term outlook for the country to stable from negative.
  • NOK leads against the greenback in G10, albeit just up 0.28%, despite lower Oil.
  • WTI is seeing a corrective pullback towards %69, after hitting highest levels since 2018 at $70 overnight.
  • The British Pound is struggling somewhat, down versus all majors,
  • Focus for the UK going forward will be on the re-opening date of the 21st June, with some news report that the government is considering pushing back the next set of lifting of restrictions to July 5,
  • A date by when over 40s are expected to have had their 2nd vaccinations.
  • Looking ahead, no tier 1 data are scheduled
  • Speakers sees BoE's Breeden speaking on Greening the Financial System, while Fed speakers are now on blackout period.
  • ALL EYES are on Thursday's event/Data.
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com
MNI London Bureau | +44 203-865-3806 | fabrice.benhassine@marketnews.com