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Holding onto gains going into the US session

USD
  • The Dollar has held onto gains going into the European early session and heading into the US session.
  • Risk has been tilted to the downside, but moves have been fairly limited, this combined with overall higher Yields have been supporting factors, despites US treasuries futures showing in green territory.
  • The Greenback saw some early extensions vs PLN, CAD, MXN, SGD, CZK, NOK, SEK, GBP and JPY.
  • But, despites some of the moves most G10 pair/crosses still trade within past ranges, USDJPY is still in a 150/151 range, with the immediate resistance unchanged at 150.89 High Feb 13 intact, failed at 150.80 for now. Cable has mostly traded in a 1.2600/1.2700 range for the past 6 sessions, and is now sitting at the middle of that range at 1.2644.
  • NZDUSD was the biggest mover overnight following a Dovish rate hold from the RNBZ.
  • NZDUSD is now down 1.17%, with the initial support seen at 0.6090 holding in early trade, printed a 0.6493 low.
  • Looking ahead, out of the US, will see 2nd readings for GDP/Core PCE, and Wholesales Inventories.
  • Speakers include, BoE Mann, Fed Bostic Collins, Williams.
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