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USDCAD TECHS

Heading North

GLOBAL POLITICAL RISK

Modi, AMLO Top Major Economy Leader Poll, Macron Last

AUDUSD TECHS

Under Pressure

EURJPY TECHS

Trend Condition Remains Bearish

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5-Year ACGB yields have risen by ~6.0bp in early cash trade, with the overnight twist flattening in futures extending a little. YM is now sub-99.00 (above 1.00% in implied yield terms) which will be exacerbating pressure, trading -6.0, while XM is +0.5. The market is a little jumpy ahead of CPI (see earlier bullet for more colour on market positioning developments in recent weeks).