Markets are quiet this morning as traders weigh up the market risks of Ukraine tensions and Trump’s latest China tariff threat. Brent crude is also holding above $60 after weeks of heavy selling. The dollar index is mildly lower this morning.
Dollar pairs have a positive bias, with the AUD/USD making good yesterday’s losses. The EUR/USD is posting small gains, while the GBP/USD is experiencing small losses. The EUR/GBP is nudging higher as a consequence.
The USD/CAD is holding recent gains and remains within a day’s session of the highs despite oil prices stabilising.
Meanwhile, the USD/CHF is staging another attempt at breaching the 1.0000 level, though is down slightly after three days of gains.
The yen pairs are broadly positive and building on yesterday’s gains, with the exception of the GBP/JPY which is lagging.
FOMC member Clarida speaks at 13.30.
CB Consumer Confidence is at 15.00.
FOMC Member Bostic speaks at 19.30.
At 20.00, we have the latest RBNZ financial stability report.
The AUD/JPY is picking up some pace in line with other yen pairs, with the Aussie maintaining its out-performance.