Stocks had a rougher time yesterday but in FX, the aussie and kiwi are continuing to rip higher as the yen also stays pressured across the board. AUD/USD hit 0.7500 for the first time since November last year as buyers are starting to take a look at the October high @ 0.7555 next.
The dollar is keeping mostly steady as the rout in the bond market (higher yields) continues to play out. The euro and pound are struggling a little as the economic and central bank outlook is a fair bit more dour on both sides in the recent week.
Looking ahead, risk tones are holding up decently as the focus continues to stay on the bond selloff for the most part. That will continue to keep yen pairs under the spotlight as well. The SNB is meeting today but it should be a non-event while euro area and UK PMI should reaffirm slower growth conditions amid inflation and the Russia-Ukraine war impact.
0745 GMT - France March business confidence
0815 GMT - France March flash manufacturing, services, composite PMI
0830 GMT - Germany March flash manufacturing, services, composite PMI
0830 GMT - SNB announces its March monetary policy decision
0900 GMT - Eurozone March flash manufacturing, services, composite PMI
0930 GMT - UK March flash manufacturing, services, composite PMI
1100 GMT - UK March CBI retailing reported sales
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.
