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USD bid is the early story of the day

FOREX
  • Early story in FX, during the morning European session, has been the bid in USD, taking its cue from Risk once again tilted to the downside.
  • The Dollar is up against the majority of the majors, and versus all G10.
  • Even the Kiwi, which was the best performer overnight, post the RNBZ rate hike, is now back a touch in the red (0.09%) against the Greenback.
  • The worst performer is the SEK, down 1.18% versus the USD.
  • Although most pairs still trade within past ranges.
  • EURUSD sees support at 1.0642, now at 1.0666 at the time of typing as initial support.
  • But market participant will have an eye on 1.0647, with 1.4bn worth of Option expiry for today.
  • Looking ahead, US, Prelim Durable goods is the notable data, but likely more attention on the FOMC later.
  • Speakers are also in focus with a packed day, which includes ECB de Cos, Lane, Knot, BOJ Kuroda, BoE Tenreyro, and Fed Brainard
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