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  • Equity markets have resumed the incline, with the e-mini S&P narrowing the gap with the mid-July alltime highs to 5 points. The resumption of risk appetite has worked against haven currencies, leaving the JPY the poorest performer in G10 so far Friday.
  • EUR continues to hold the post-ECB losses, with EUR/USD circling Thursday's worst levels of 1.1757. This keeps the outlook bearish, with first support undercutting at 1.1738 ahead of the key level of 1.1704. A heavy slate of option expiries layered between 1.17--1.1800 today could keep spot muted going forward.
  • Greenback has resumed recent strength, with the USD index closing in on the multi-month highs printed earlier this week at 93.191.
  • The data slate thins out headed into the close of the week, with Canadian retail sales and the flash Markit PMI data from the US the last few releases. There are no notable central bank speakers.