April 16, 2024 06:49 GMT
USD is extending broader gains in early trade
CROSS ASSET
- The Dollar is again in the green going into the European session, Risk Off, higher Yields, investors pulling back on the number of expected cuts for the US, and Geopolitical risks have all been a supportive factor of the Dollar.
- The Aussie is the worst early performer, Risk off has also been a factor, AUDUSD has now lost 3.25% from just pre US CPI levels, and now eyeing a test to 0.6400.
- US Treasuries are seeing a pick up in Volumes to the sell side, TYM4 in 5k, USM4 1k and FVM4 2.5k.
- USDJPY is in turn testing a new multi decade high, and the immediate resistance noted at 154.56 1.618 proj of the Feb 1 - 13 - Mar 8 price swing, printed a 154.61 high.
- Further out will see 155.00, and the street will continue to be cautious of interventions risks.
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