Strong start for risk on further global.......>

FOREX: Strong start for risk on further global lockdown easing

- Global equities trade well, with risk sentiment improving across the board as

the slow rollback of lockdown restrictions appears to be going smoothly. As a

result, markets have worked against the USD and haven currencies early Tuesday,

flattering most major pairs and pressing the USD index toward last week's lows

at 99.002.

- AUD/USD is improving further alongside global equities, topping $0.6600 and

the recovery high at $0.6616. The break here opens the 200-dma at $0.6659 and

$0.6673 Fib retracement for the decline from the YTD high. AUD is one of the

strongest in G10 so far, with NZD not far behind. AUD/JPY is mirroring the

risk-on moves, with the cross breaking last week's best levels to expose the

72.12 200-dma and 72.21 above.

- US new home sales data are expected to show the hit from the stay-at-home

orders across April, with overall sales seen dropping over 20% on the month. US

consumer confidence data is also due. Speeches are due from ECB's Lane, Fed's

Kashkari and BoC's Poloz and Wilkins.