Headlines:
Markets:
- USD leads, AUD lags on the day
- European equities decrease; S&P 500 futures down 0.4%
- US 10-year yields up 6.2 bps to 4.012%
- Gold down 0.8% to $2,038.94
- WTI crude up 0.5% to $73.07
- Bitcoin up 0.8% to $43,042
It was one-way visitors in European buying and selling at this time because the greenback surged greater in opposition to the remainder of the foremost currencies bloc.
The return of the Treasuries market from the lengthy weekend sees yields soar greater and that’s serving to to underpin the buck at this time. Including to that’s the continued pushback by ECB policymakers on any imminent price cuts, though that is still extra of a he says, she says state of affairs with merchants nonetheless totally pricing in a price minimize for April.
The greenback’s power additionally comes amid a few key technical strikes on the session. EUR/USD is down 0.5% in a break under 1.0900 to 1.0875 whereas USD/JPY is racing to recent one-month highs to 146.75, pushing previous final week’s excessive of 146.41 on the day.
Including to that, USD/CAD is contesting a push above its 200-day shifting common of 1.3480 whereas AUD/USD is down 0.9% to 0.6600 and nearing a check of its personal 200-day shifting common at 0.6581. In the meantime, NZD/USD is down 0.8% to 0.6150 because it tracks to recent five-week lows amid a crack below the 0.6200 mark.
The greenback advance additionally comes amid a stoop in equities with European indices set for back-to-back losses to begin the brand new week. US futures are additionally pointing decrease and that’s not serving to with the chance temper on the day.
In different markets, gold is down 0.8% to $2,039 and brushing up in opposition to a check of key near-term ranges as outlined here. Oil is up barely to $73 because the push and pull this week continues with merchants nonetheless assessing the state of affairs within the Center East.
Whereas the strikes thus far at this time look like in a single course, will we see a repeat of the sturdy bids within the front-end of the bond market as we did on the finish of final week? That might but come as much as mess with the flows we’re seeing to begin the day.
