FX Breakout Monitor: XAU outpaces also strong GBP and JPY
While sterling and yen are very strong on the day and the smaller G10 and EM currencies are on the defensive on an episode of weak risk sentiment and safe haven seeking in bonds, gold is quietly poking toward a breakout versus a strong US dollar and has etched new all-time highs today against a number of other major currencies.
Crude oil turns lower as overhang of supply weighs
Crude oil is back on the defensive as the overhang of supply weigh on the market
Macro Dragon: US is Back, RBA mins, ZEW, Empire...
Macro Dragon = Daily Cross Asset Views. We take a look at the overnight session that saw a massive GDP miss from Japan. Touch on the continued Risk-On that we are seeing in Equities - CH & HK stocks pretty much back to pre-virus news, yet USDCNH at 6.98 well off the 6.84 lows post the signing of the Phase One deal earlier in April. Today watch out for RBA mins early doors Asia, as well as ZEW data on Germany & the Eurozone, Jobs data out of the UK, Mfg. Out of CA & Empire out of the US.