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Lower And Through Support


Risk Appetite Resumes


In A Range

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Risk-on impetus unleashed by the infrastructure deal struck by the White House and a bipartisan group of senators lingered, as Asia-Pac news flow provided little to rock the boat. Positive sentiment reduced demand for safe haven currencies, which left USD and JPY lagging the G10 pack. USD/JPY ticked higher early on, but gave away its initial gains into the Tokyo fix.

  • The Antipodeans led gains at the margin, even as NSW gov't declared that parts of Sydney will go into lockdown in a bid to prevent further spread of Covid-19 infections.
  • The PBOC set its central USD/CNY mid-point at CNY6.4744, just 4 pips above sell-side estimate. USD/CNH traded on a softer footing, mostly on the back of broader greenback weakness.
  • U.S. PCE and personal income/spending data provide the main points of note on today's data docket, in addition to the final reading of U. of Mich. Sentiment. Comments are due from Fed's Williams, Mester, Kashkari & Rosengren as well as ECB's de Cos.