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USDCAD TECHS

Approaching Major Support

US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

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  • Equities sliding further in recent trade, with the e-mini S&P edging below the 20-day EMA at 4132.59, with the USD gaining in tandem. NASDAQ futures continue to bear the brunt, with the NQM1 contract nearing in on the 50-dma and almost completely erasing the early April rally.
  • USD strength feeding well into precious metals markets, which pressures spot gold to the day's lows as price action really picking up in the yellow metal. Gold/silver ratio bouncing off the multi-month lows printed overnight.