Markets in Detail
Overnight USD is lower vs all of its G-10 peers, with the steepest drops vs the Norwegian krone, the Swiss franc and the shared currency. The decline amounts to 0.5% as measured by the Bloomberg dollar index, the biggest drop since April 24
EUR is higher vs most of its G-10 peers, gaining most vs the greenback and the New Zealand dollar as economic data in the euro area continue to improve.
EUR/USD rose to 1.1089 before offers ahead of 1.1100 capped gains, after supply was absorbed earlier around 1.1050
USD/JPY extended its losses below 113.00 as UST yields fell to their lows of the session and as U.S. stocks reversed early gains.
USD/CAD fell to a fresh low at 1.3590, the lowest since April 27, as the Canadian dollar continued to be underpinned by strength in oil; WTI crude rose as high as $49.38 before paring gains
GBP/USD initially rose after U.K. CPI data m/m beat estimates, however it snapped back to trade below 1.2900
AUD/USD was little changed at 0.7428, remains near week’s highs ahead of 1Q wage data
NZD/USD climbs 0.1% to 0.6890, trading back at levels seen after GlobalDairyTrade auction index rose 3.2%
New Zealand 10-year bond yield -2bps to 2.91%
Yield on Aussie’s 3-year government note slips ~2bps to 1.76% while 10-year declines 3bps to 2.56%; curve flattens
US Treasuries saw small gains across the curve, yields ending 1bp-2bp lower
U.S. stocks were little changed, with the S&P 500 Index at a record as defensive shares advanced. S&P 500 was down 0.1% to 2,401 and Dow Jones adds less than 0.1% to 20,999
WTI crude rose as high as $49.38/bbl before retracing gains to decline 0.3% to ~$48.69/bbl
Gold was up 0.5% to $1,237/oz (range $1,230-$1,240)