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COMMODITIES

WTI Edges Off A Fresh Cycle High

EQUITIES

US Futures Moderate as S&P500 Approaches Record High

EUROPEAN COUNCIL

Focus On Response To Poland As Summit Due To Start

FOREX
FOREX: The greenback garnered support as US 10-Year yields breeched the 3.00%
level in early dealing, which pushed USDJPY to multi-month highs back above
109.00. The move, however, was short-lived as higher yields & a poor set of
blue-chip earnings weighed on US equities from the off, with the major indices
shedding as much as 2% at one point. The move in stocks saw USDJPY move back
below 109.00, bottoming near 108.50, before a late push higher in yields dragged
the cross back to 108.85.
- The pullback in USD supported cable & EURUSD, with both pairs pushing away
from lows. EURUSD last at 1.2235, GBPUSD last at 1.3980.
- NZDUSD had another poor session, extending the losing streak to six
consecutive trading days as a balanced set of Australian CPI figures led to more
demand for AUDNZD throughout the Asia session, although AUDUSD, NZDUSD & USDCAD
stuck to tight ranges in EU & NY hours.
- Wednesday's docket is particularly light. ECB's Villeroy, Knot & Lane will
speak, with BoC's Poloz & Wilkins set to appear in the Senate, while Australia &
New Zealand observe a public holiday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com