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Sentiment Stays Buoyant, Greenback Extends Losses

FOREX

Participants were keen to take on more risk as post-market surge in Netflix shares and a positive lead from Wall Street supported the broader equity space, outweighing a further increase in China's daily COVID-19 case count.

  • Antipodean currencies led gains amid better risk sentiment. RBA Gov Lowe signalled that further hikes to the cash rate target are on the horizon but AUD/NZD ebbed lower.
  • The greenback underperformed but the BBDXY Index struggled to penetrate yesterday's lows.
  • USD/JPY sales emerged over the Tokyo fix but the rate then recouped the bulk of those losses.
  • Inflation data from the UK & Canada as well as U.S. existing home sales & flash EU consumer confidence will hit the wires later today.
  • Italy is gearing up for the next episode of its political saga, with PM Draghi expected to address the upper house at 9:30 CET.
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