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MNI: US NAR: MAR EXISTING HOME SALES 4.19M SAAR

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Slow Start

FOREX

We are off to a mixed start to the new week, with most major crosses holding tight ranges so far. Participants assess familiar themes, including inflation concerns and global Covid-19 developments.

  • The yuan has been stable, despite the expanding outbreak of the Delta Covid-19 variant in China. Local health officials said that the outbreak is expected to worsen and urged affected regions to adopt "emergency mode."
  • The kiwi underperforms in G10 FX space. Liquidity in NZD crosses is thinned out by a local market holiday. Sterling is the pacesetter in early trade.
  • The Asia-Pacific economic docket is very light today. German Ifo Survey, regional Fed m'fing indices and comments from ECB's de Cos & Centeno, BoE's Tenreyro, Norges Bank's Bache & Riksbank's Breman will take focus after Asia hours.
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