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Oil Lower, Equities Firmer, A$ & NZD Outperform in G10 FX As Risk Appetite Recovers

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Risk appetite remains on the front foot for the most part in the first part of Monday trade. NZD and AUD lead the gains against the USD. NZD/USD last near 0.5925, up 0.60%, while AUD/USD is around 0.50% higher, tracking close to 0.6450.

  • US equity futures are higher, albeit off best levels. Lack of further escalation in the Middle East over the weekend is likely aiding broader risk appetite. Regional equities are higher, led by Hong Kong (up over 2% at this stage).
  • Oil prices continue to retrace lower, albeit remaining above recent lows. Front month Brent, last near $86.75/bbl (down 0.60%).
  • US yields are mostly high, +2-3bps, for most parts of the curve. US 10yr futures sit lower, but are above earlier April lows.
  • Yen is underperforming, particularly compared with AUD and NZD gains. Highs in USD/JPY have been at 154.74, just under recent cyclical highs of 154.79.
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Risk appetite remains on the front foot for the most part in the first part of Monday trade. NZD and AUD lead the gains against the USD. NZD/USD last near 0.5925, up 0.60%, while AUD/USD is around 0.50% higher, tracking close to 0.6450.

  • US equity futures are higher, albeit off best levels. Lack of further escalation in the Middle East over the weekend is likely aiding broader risk appetite. Regional equities are higher, led by Hong Kong (up over 2% at this stage).
  • Oil prices continue to retrace lower, albeit remaining above recent lows. Front month Brent, last near $86.75/bbl (down 0.60%).
  • US yields are mostly high, +2-3bps, for most parts of the curve. US 10yr futures sit lower, but are above earlier April lows.
  • Yen is underperforming, particularly compared with AUD and NZD gains. Highs in USD/JPY have been at 154.74, just under recent cyclical highs of 154.79.