This morning, the US dollar has steadied after further losses yesterday. Stock markets have lifted off recent lows as traders embrace risk on hopes for a US-Chinese trade agreement.
The dollar pairs are on the back foot, with selling led by the AUD/USD and NZD/USD. The EUR/USD and GBP/USD are steady, with minor losses after sizeable gains yesterday. The EUR/GBP is unchanged after volatile gains yesterday in the favour of the euro.
Yen pairs are mixed following a day of sizeable gains yesterday. The AUD/JPY is on the back foot, while the EUR/JPY and GBP/JPY are on the front foot, extending yesterday’s gains.
Gold is holding and extending the gains from the recent four day winning run.
Coming up today, we have Spanish flash CPI at 08.00.
At 09.00, we have European M3 Money Supply.
US CB confidence is at 15.00.
FOMC member Bostic speaks at 16.00.
The pound continues to enjoy interest on Brexit hopes while, the dollar has so far kept its recovery in check.