The NZD is the strongest and the USD is the weakest as NA traders enter for the day
As North American traders enter for the day the NZD is the strongest and the USD is the weakest ahead of April Retail sales (are expected to show a stimulus check induced rise of 1% for the headline number). Industrial production, Capacity Utilization, Businesss inventories
ForexLive European FX news wrap: Dollar falls, risk trades ratchet higher
- NZD leads, USD lags on the day
- European equities higher; S&P 500 futures up 0.6%
Heads up: UK PM Johnson and chief medical officer Whitty to hold a press conference later
UK prime minister, Boris Johnson, did express some concern yesterday over virus variants but it is unlikely to see that derail plans on the economic reopening just yet.
ECB minutes: Rate expectations remain well anchored by ECB guidance
Nothing that we don't already know from the ECB since the meeting last month. Carry on as you will.
Treasury yields keep a little lower so far on the day
The high this week hit 1.70% but that seems a bit of a distance away now. In turn, that has also flipped the switch for some light pressure against the dollar today.
Equities continue to keep with the bounce from yesterday
European indices are also holding modest gains on the session, roughly between 0.4% to 0.6% at the moment. Nasdaq futures are leading gains in the US futures space, up 1.1% while S&P 500 futures are up 0.7% at the moment.
Germany sets new daily vaccination record with 1.35 million doses administered yesterday
That is good news as the vaccine progress starts to gather pace but much like how things have slowed down in the US, it might be a challenge for Europe once vaccinations in general start to reach the 50-60% mark.
Fed tolerance is the key variable in the market right now
However, given how things are looking so far, there is little reason not to expect such conditions to continue - though there will be some interesting caveats.
Dollar a little on the backfoot to start the session
The greenback is slightly on the backfoot as we get things going in European morning trade, as major currencies look to stretch the ranges for the day.
Spain April final CPI +2.2% vs +2.2% y/y prelim
The preliminary report can be found .