FOREX: DXY Under Pressure, EURUSD Extending Session Highs

• CANADA 2025 CAPITAL EXPENDITURE PLANS +5.5%
• PRIVATE SECTOR INVESTMENT SEEN +5.5%, GOVERNMENT +5.7%-STATCAN

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• 11:00 ET 16:00 GMT: US President Donald Trump will convene the first Cabinet meeting of his second term.
• House Speaker Mike Johnson (R-LA) scored a major win, passing a budget resolution that will underpin a mammoth reconciliation bill covering the bulk of President Trump’s agenda.
• The House vote will ease some concerns from the Senate, but there are still major obstacles to a final package - namely the Senate's position that a tax package must make the TCJA permanent.
• Republican leaders will meet today to discuss the March 14 government funding deadline. In response to the House budget vote, the implied probability of a government shutdown decreased slightly but the overall risk remains elevated.
• CBC reports that “North America-wide tariffs are not a done deal", citing a White House clarification on Trump's Monday comments.
• Trump ordered the Commerce Department and USTR to examine tariffs on all copper imports.
• Markets are braced for Nvidia’s Q4 earnings report – the first since DeepSeek disrupted the Artificial Intelligence sector.
• Ukrainian President Volodymyr Zelenskyy will visit the White House on Friday to meet with President Trump and sign a deal to share mineral revenue with the US.
• The Senate voted to undo a Biden-era rule limiting offshore drilling.
• Republicans are likely to shield the bulk of Biden’s clean energy investments.
• Poll of the Day: 80% of Americans believe tariffs will lead to increased prices.

Full Article: US DAILY BRIEF

OAT Block trade, suggest buyer:

• OATH5 ~1k at 124.28.

OATH5 is through the session high and testing the immediate resistance right here at 124.32.
Further out for OAT, sees 124.73.

France leads in Futures, helping push the OAT/Bund spread tighter, now by 1.3bp.

Some will look at the 2025 low of ~70.8bps, better support is seen at 68.65bps, the September 2024 low.

(Chart source: MNI/Bloomberg).