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Greenback Edges Higher, Antipodeans Sag

FOREX

Major USD crosses retraced some of yesterday's moves, albeit to a limited degree. The greenback outperformed its G10 peers at the margin, with participants awaiting a congressional testimony from Fed Chair Powell. The Asia-Pac session saw little in the way of fresh headline flow to stir the pot.

  • The Antipodeans faced a modicum of selling pressure, even as consumer confidence improved on both sides of the Tasman.
  • The PBOC set its central USD/CNY mid-point at CNY6.4613, 13 pips shy of sell-side estimate. Spot USD/CNH oscillated within a tight range around neutral levels.
  • U.S. existing home sales, advance EZ consumer confidence take focus on the data front today. Speeches are due from ECB's Lane, Rehn & Schnabel as well as Fed's Powell, Mester & Daly.
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