Free Trial

Markets in Risk-Off Mode as Lockdown Extensions, Vaccine Ire Weigh

FOREX
  • JPY and USD are among the strongest currencies in G10 so far Tuesday, with growth proxies and antipodeans lagging. AUD and NZD are among the morning's worst performers.
  • EUR/USD saw a sharp spell of weakness alongside the European open, with markets moving in a risk averse fashion as traders digested the extension of the German lockdown restrictions in the face of stubbornly high news cases.
  • Over-arching USD strength has weighed in most major pairs, with GBP/USD breaking below 1.38 to open next support at 1.3779. Further ire over the UK's vaccine supply continues to take focus, with a decision set to be made by the European Union later in the week.
  • Focus turns to February new home sales from the US and a busy central bank speaker slate. BoE's Bailey, Haldane & Cunliffe are due as well as ECB's Villeroy. The Fed docket is busier, with 8 speeches scheduled from Fed members - most notably Fed's Powell, who appears alongside Treasury Secretary Yellen in front of the House Financial Services Committee.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.