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USD is paring overnight gains

FOREX
  • The Dollar has pared some of its overnight gains, during the early European session.
  • The Greenback was in the Green overnight, following the OPEC news that they would cut output.
  • The USD is now more mixed against G10, down 0.66% with the NOK, given the Oil bid.
  • The Yen sits at the other end of the spectrum, and is down 0.43% at the time of typing.
  • European mfg PMIs were mostly close to inline and had no impact in FX.
  • The EUR found a bid against the USD, GBP, CNH, CHF, but is overall mixed.
  • Next resistance in EURGBP is at 0.8829 High Mar 30.
  • Looking ahead, sees US Final mfg PMIs, so more focus on the US ISM mfg this afternoon.
  • Speakers, include, ECB Simkus, Vujcic, and Fed Cook.

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