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Tight Ranges

FOREX

Major FX pairs have meandered this morning in line with fluctuations in risk sentiment. U.S. e-mini contracts have now trimmed their initial advance but remain in the green. Headline flow has been light, with China's COVID-19 dynamics under continuous scrutiny.

  • The BBDXY index oscillates around unchanged levels, as the dollar stabilises after yesterday's outperformance. There are light risk-off flows as we type, with JPY and CHF outperforming high-betas.
  • The latest set of China's activity indicators provide the focal point of this Asia-Pac session. Later in the day, we will get U.S. retail sales, industrial output, Empire M'fing & flash Uni. of Mich. Survey.
  • The list of central bank speakers preparing to take the floor today includes Fed's Bostic, Bullard & Daly as well as ECB's Rehn.

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