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Safe Havens Outperforming Commodity Bloc

FOREX

After a quiet start, the USD is weaker against the other majors, but higher against commodity FX, as oil weakens on the Saudi supply headlines. Moves are modest overall though.

  • EUR/USD is up to 1.0660, while USD/JPY is back down through 130.00. Cash US Tsy yields are off a touch. Brent crude is back sub $114/bbl.
  • NOK is around 0.15% weaker from NY closing levels, with USD/NOK back close to 9.5000, after spiking close to 9.5400 earlier. USD/CAD is a touch higher to 1.2670.
  • AUD is marginally weaker to 0.7170, while NZD is outperforming a touch, holding steady at 0.6485. Earlier NZ terms of trade came in weaker than expected for Q1 (+0.5% versus +1.3% forecast).
  • Equity sentiment is trading on the backfoot throughout the region. US equity futures are pushing higher though, just back into positive territory.
Energy BulletsCommodities
Energy BulletsCommodities

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