EUR gives back ground
What happened overnight
– RBI cuts repo rate and CRR
– Australia’s NAB business confidence rose
– New Zealand’s trade deficit narrowed on falling imports
The EUR and its periphery currencies have given back some ground this morning, with EURUSD trading through Monday’s 1.3425 lows and the CE3 and Nordics outperforming. USDJPY is also a bit softer, now trading back at Thursday’s closing levels. In contrast, the commodity bloc is firmer, with AUDUSD rebounding to 1.0463 highs despite mostly negative price action in global equity markets. Stocks are lower across Europe, and the S&P future is down 0.3%.
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