This morning, the US dollar is unchanged after another weak session on Monday. This weakness came about in large part due to the uncertainty sparked by the FBIs raids on the office of Trump’s lawyer and confidant Michael Cohen.
The AUD/USD and NZD/USD are higher again on hopes of a bullish response from China on Trump’s tariff threats. The Kiwi is higher for the third straight day.
After a strong day yesterday, the EUR/USD is suffering minor losses, with the GBP/USD unchanged despite reassuring house price data yesterday. The EUR/GBP is dropping back again after making gains yesterday.
Yen pairs have a positive bias, with the yen backing off, helping major pairs including the USD/JPY to rise. The GBP/JPY is making its third solid day of gains.
Today, we have MPC member Haldane speaking at 10.30.
Following this, we get US PPI at 13.30, released alongside Canadian building permits.
The Australian dollar has performed well in the last couple of days, despite ongoing concerns about the impact of trade tariffs in the region.
The medium and long term trend still is negative though, so it would be prudent to side with this and bet on a resumption of selling.