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USD fades early weakness

FOREX
  • There's very little change for the Dollar during the early European session, with all G10 pairs/crosses trading within past ranges.
  • The Dollar saw some small downside early continuation, with DXY hovering at session low, and tested its lower part of its against the ZAR, MXN, NOK, INR, JPY, SEK, CZK, and MYR during the European Equity cash open, with Risk tilted to the upside.
  • The Japanese CPI beat has kept the Yen as the best performer in G10, up 0.29% against the Greenback, but still within that 150.00/151.00 range.
  • AUD is the second best performer, taking its cue from the Risk On tone, but is off the best level at the time of typing.
  • AUDUSD exchanges hands at 0.6550, and further extension higher will have market participants keeping a close eye on the large option expiry for today, with 3bn at 0.6595/0.6600.
  • Cable made another attempt at the 1.2700 handle, failed last Thursday at 1.2709, but failed again today at 1.2697, and is now testing 1.2672 its intraday low.
  • A clear break through the 1.2709 level, will open back to 1.2759, not a tech level, but where the pair was trading pre US February NFP.
  • Looking ahead, main focus on the data front for today will be on the US prelim Durable Goods.
  • Speakers include, ECB Elderson, BoE Ramsden, and Fed Barr.
Energy BulletsCommodities
Energy BulletsCommodities

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