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Paring gains going into the US session

USD
  • The Dollar was trading closer to flat against G10s overnight and going into the EU Cash Govie open.
  • Early mover was the NOK, which fell following the Norway CPI coming below consensus.
  • The NOK is still worst performer, now down 0.39% but off its worst level, following some reversal in the USD, falling lower, on the back of the Risk Off tone in Europe and the US.
  • The Yen was under early pressure, as US Yields ticked higher into the European session.
  • USDJPY trades in a most notable range in G10, 90 pips, tested above 149.00, to print a 149.07 high, but as since fallen back below 149.00, with the dollar taking its cue from the move higher in Equities.
  • Looking ahead, US Final Wholesales inventories is the only notable release, but unlikely to be a big market mover, with the main focus on the US CPI this week.
  • Speakers include, Fed Perli, Bostic, Waller, Kashkari, Daly, and ECB Villeroy.

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