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Major currencies are little changed on the day after seeing more of a risk positive session yesterday, with commodity currencies leading gains.
The loonie was a standout after the more hawkish tilt from the BOC policy meeting, seeing USD/CAD slide all the way from 1.2630 to 1.2460 before keeping around 1.2500 currently as daily support at 1.2476-00 holds the drop for now.
EUR/USD stays defended by the 1.2000 handle with the 100-hour moving average, now seen @ 1.2017, also a near-term support level that is holding off further declines currently. Topside is limited closer to the 100-day moving average @ 1.2053.
USD/JPY remains sticky near 108.00 with large option expiries around the figure level something to consider in the sessions ahead. That said, Treasury yields keeping lower (10-year yields down 2.5 bps to 1.53%) may well anchor yen pairs on the day.
Elsewhere, gold is closing in on $1,800 as yields are looking sluggish with its 100-day moving average seen @ $1,803.48. That will be a key level to watch on the daily as technical buyers may look towards profit-taking with investor appetite still weak.
As for equities, the dip was finally bought yesterday and while US futures are more tepid so far today, it does provide some confidence that the market is not really too shaken up by the pullback seen at the start of the week.
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