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USD Down Through Friday Lows, Gold Spikes

USD

The BBDXY has broken through Friday lows, last near 1238.30. We are still above Tuesday lows from last week near 1236, but comfortably below the simple 200-day MA (1241.37).

  • The market appears happy to fade USD upticks. USD/JPY is down around 0.20%, last near 149.10. NZD/USD is up 0.20%, briefly getting above 0.6090, but didn't have any follow through. AUD/USD is only up modestly, last near 0.6590.
  • The direct catalyst for fresh USD weakness doesn't appear apparent. Gold has spiked higher in recent dealings, getting to fresh highs above $2018. This is through previous highs in the past month. This may have spilled over into weaker USD sentiment.
  • US yields have ticked away from earlier highs (albeit still up for the session, 10yr yield last near 4.50%). US equity futures are down, Eminis last -0.20%. Regional equities are mixed at this stage.
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