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Greenback Extending Gains Post-Minutes

FOREX
  • The greenback trades firmer this morning, extending the move post-FOMC minutes, which the markets interpreted hawkishly after the Fed strongly suggested the removal of stimulus could accelerate in the coming months. The USD's gains are more notable against growth proxy and commodity tied currencies, with AUD and NZD at the bottom-end of the G10 table.
  • AUD/USD's downtick Thursday puts the pair short of a firm break above the 50-dma - and the rejection could mark the beginning of a bearish reversal that initially targets 0.7082 ahead of 0.6993. NZD is trading similarly poorly, but NZD/USD holds clear of key support at 0.6703 for now.
  • Equity markets remain the focus for risk sentiment. There's been very little bounce for the in focus tech sector pre-market, with the NASDAQ future indicating another negative open on Wall Street later today. The e-mini S&P and DJIA futures are faring slightly better, but all still remain well shy of yesterday's best levels.
  • ISM Services Index takes focus going forward, with markets on watch for the prices subcomponent after the manufacturing ISM data earlier in the week dropped sharply. Final German CPI numbers also cross as well as weekly jobless claims. Fed's Daly and Bullard make up the speaker slate.
Energy BulletsCommodities
Energy BulletsCommodities

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