Markets are holding on to yesterday’s risk appetite that saw the S&P flirt with fresh highs, pushed the DXY USD index to fresh highs and saw oil prices supported off its lows. Market vol has shifted lower, and the USD is weak into the open, with only CNY and GBP underperforming. The focus has been a weaker than expected UK GDP, easing pressure in Russia, stability in oil prices, and the upcoming slew of U.S. data including durable goods, GDP, University of Michigan confidence, new home sales and the Fed’s preferred inflation metric, PCE.
Read the full report: FX Daily