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Safe Havens Lose Their Appeal In Slow Start To Asia Session

FOREX

It has been a slow start to the Asia session, with participants on the lookout for fresh catalysts. The U.S. dollar has come under light pressure following its outperformance on Tuesday. The dollar index (BBDXY) has unwound some of its gains from the previous day.

  • Broader safe haven FX space has also lost its allure amid marginal upticks in all three main e-mini contracts. Spot USD/JPY is oscillating around neutral levels.
  • On the data front, focus turns to the third reading of U.S. GDP, German CPI, final EZ consumer confidence & Australian retail sales.
  • Speeches are due from Fed's Powell, Mester & Bullard, ECB's Lagarde, de Guindos & Schnabel as well as BoE's Bailey & Dhingra.
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