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Greenback Regains Some Poise

FOREX
  • Having traded at new multi-month lows earlier this week, the greenback has regathered some poise Tuesday, rising against most others in G10. The move coincides with renewed momentum in US equity markets, with the e-mini S&P pushing higher to touch another record level overnight. Earnings season continues, with UPS, General Electric, 3M, Visa, Alphabet, Starbucks due, among others, today.
  • Yesterday's outperformers are at the bottom of the table Tuesday, with AUD and NZD mildly weaker against most others. AUD/USD has dipped back below 0.78 in recent trade.
  • Sweden's Riksbank kept policy unchanged in a decision that was largely alongside expectations. While keeping the repo rate path at zero across the forecast horizon, the Riksbank warned that, while the Swedish economy will normalize toward the end of 2021, the pandemic is "not over". SEK trades weaker against most others in G10.
  • Focus Tuesday turns to US consumer confidence numbers for April as well as speeches from ECB's de Cos and BoC's Macklem.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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