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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

AUD

Westpac note that their "base case remains for the Aussie to trend higher, to $0.80 by end-Q3 and $0.82 by year-end. Australia has printed 40 consecutive monthly trade surpluses and a record 8 consecutive quarter of current account surpluses. A$ should benefit from anticipation of synchronised global recovery over 2021. However, A$ is the weakest G10 currency over the past month, reflecting the RBA's aggressive balance sheet expansion (QE exceeding the pace of debt issuance) and perhaps also investor anticipation of China-related headwinds for Australian exports and FDI beyond the current resources boom. Australia's sluggish vaccine rollout also puts a limit on the breadth of economic recovery from the pandemic. Ranges may take some time to give way on the top side."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com