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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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USD weakness extending into NY hours here, with new lows printed vs. GBP, EUR. As has been the case throughout the European morning, new key headline driver behind the move, but curve flattening the US likely working against the greenback at these levels.

  • Next resistance in EUR/USD kicks in at 1.2037, the 61.8% retracement of the Feb 25 - Mar 31 sell-off after the Apr 15 high and key resistance has now given way.
  • All helping spot gold add to earlier strength, with yellow metal nearing in on $1780.