USD: An early broader bid is going through
Mar-13 07:39
- A steady overnight session for the Dollar, the Aussie is the early worst performer but trades around Yesterday's mid range, after paring gains as Equities ticked lower.
- Small initial resistance in the AUDUSD was seen at 0.6331, was Tuesday's high, this has so far held after achieving a 0.6334 high Overnight.
- Support is seen at 06277, followed by 0.6259.
- The Yen is the early best performer, another fairly wide 80 pips traded session, but similar to other G10 pairs/crosses, USDJPY trades within this Week's wide range of 146.54/149.15 (low/high), at 147.92 going into the European session.
- There's a bit of broader Dollar bid here, testing session high against the AUD, CNH, KRW, EUR, GBP, SEK, CZK, and SGD at the time of typing
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USD: Finding a bid into the European session
Feb-11 07:27
- Looking at the Overnight session for the Dollar against G10, overall it was a steady flat session, the Kiwi was the best performer, albeit just up a tiny 0.16% and at the other end, the CAD was down 0.08%.
- Since the European Cash Govie open, the Dollar is seeing a bid emerging, European Desks are catching up with the Overnight news, but also note that we have some heavy Bond supply today, which should weigh on Futures.
- The CAD is now down 0.14%, and broader offers are going through the ILS, GBP, MXN, CHF and ZAR, all testing their respective tight traded low.
BUNDS: Heavy suppply and Fed Powell are in focus Today
Feb-11 07:17
- There's very little change for Bund, although the overnight session sees a slightly wider range, volumes on both sides of the Atlantic are on the low side.
- Bund and Tnotes are offered, after Trump ordered a 25% Tariff on all Steel and Aluminium Imports, but the German contract remains within the Initial support of 132.72 and resistance at 133.86.
- For the US 10yr, TYH5 is testing trendline right here at 109.03, although most desks will look for immediate support at 109.01, the fast market printed low, post NFP.
- This is a lighter Week on the Data front, with the US CPI (Wednesday) the key release, and for the UK, GDP (Thursday).
- There's no notable Data due for today.
- BoE Mann gave an Interview with the FT Yesterday, so today could be a lesser event, attention will be on Powell who testifies at the Senate.
- SUPPLY: Early focus will be on supply in Europe and later in the US, Netherlands €2bn 2047 (equates to 30.3k Bund) should weigh, Germany €5bn Bobl (equates to ~47.5k Bobl) will weigh. US Sells $58bn of 3yr Notes.
- SYNDICATION: EU 2031 Tap/2050 Green, Italy 2040, UK 2035.
- SPEAKERS: BoE Mann, Bailey, Fed Powell, Hammack, Williams, Bowman, ECB Schnabel.
MNI: NORWAY Q4 MAINLAND GDP -0.4% Q/Q
Feb-11 07:07
- MNI: NORWAY Q4 MAINLAND GDP -0.4% Q/Q
