Global Themes


The USD bounced from two-week highs lows as the US dollar staged a comeback from last week’s selldown.

The US dollar – recently stronger as US interest rates surged higher – paused at the end of last week after US consumer inflation prices missed expectations. The USD eased last week after gaining almost 5.0% over the last month.

However, the greenback started the new week stronger, with the US dollar index rebounding from two-week lows.

Euro, yen fall

The US dollar was flat versus the HKD and moderately stronger against the Chinese yuan.

In other markets, the USD strength saw the euro weaken. The EURHKD fell 0.1%.

The Japanese yen fell 0.3% as it neared three-month lows.

The New Zealand dollar continued to fall after last week’s Reserve Bank of New Zealand meeting saw the new RBNZ governor Adrian Orr strike a more cautious tone.

RBA minutes

Today’s market will be focused on the Reserve Bank of Australian minutes with details from the RBA’s 1 May meeting due at 9.30am.

From overseas, European growth figures, due 5.00pm, and US retail sales, due at 7.30pm, can drive a big session of potential moves overnight.

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