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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • The greenback was solidly the best performer Friday, with the USD Index narrowing in on a one-month high and the 50-dma resistance at 90.7538. Dollar strength wasn't consistent throughout the session, however, with the dollar starting poorly as US yields plumbed new multi-month lows of 1.4266%. This reversed during NY hours, however, giving FX markets the greenlight to buy into recent dollar weakness and stage a bounce.
  • Dollar strength worked against the NZD most notably, which extended underperformance from the Asia-Pac session well into the NY close. This resulted in new multi-month lows of $0.7116.
  • GBP rose alongside the USD, while NOK and SEK traded poorly into the Friday close.
  • Focus in the coming week rests on the Fed. Markets will eye Powell's press conference for any clues on the future of the Fed's asset purchase program - with many sell-side analysts forecasting a full taper by the end of 2021. Rate decisions are also due from the Norwegian, Swiss, Brazilian, Turkish, Indonesian and Japanese central banks.