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USD has pared some gains

CROSS ASSET
  • After trading in the green throughout the overnight session, early European and US session, the Dollar has given back most of its gains versus all G10s following the US ADP miss, albeit now closer to flat with AUD, CAD, JPY, CHF, NZD, and the British Pound.
  • The SEK is the best performer, up over half a percent, and next support in USDSEK will be seen at 10.2826, the very short term 38.2% retrace of the Dec/Jan gains.
  • EURUSD has broken its tight range to break Yesterday's high, with small resistance seen at 1.0872, although most market participants will look at 1.0884, Friday's high as the first area of interest.
  • Emini falling to session low, could limit some of the Dollar downside.

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