November 09, 2022 18:54 GMT
Greenback Slowly Grinding Higher Post US 10Yr Auction, Stocks On Back Foot
- The greenback has been edging higher over the past two hours as equities continue to pare the week’s gains, largely shrugging off the earlier comments from Shoigu and more focusing on the Poldoyak’s rebuttal. Furthermore, the crypto rout continues to deepen with bitcoin extending the day’s declines to 12%.
- Additional pressure on treasuries following the US 10yr auction is underpinning the most recent USD strength.
- With risk sentiment dented, the likes of AUD and NZD are extending losses to more than 1% on the session, however, GBP is the clear underperformer, having fallen 1.8% as of writing back below 1.1350 and eyeing the week’s lows around the 1.1300 handle. EURGBP also extending gains above 0.8791 resistance, trading to a 4-week high of 0.8828. Next resistance comes in at 0.8867, high Nov 12.
- A very light data docket on Thursday ahead of the US CPI main event. For those that haven’t seen the MNI preview is here: https://roar-assets-auto.rbl.ms/documents/20127/USCPIPrevNov2022.pdf