Both currencies are boosted by trade optimism from US-China negotiations
The aussie and kiwi are leading gains as they are helped by improved risk sentiment as latest trade talks between US and China are said to have shown progress. Details are still lacking though, so that's the big caveat but so far at least the tone is that we're likely headed for some form of agreement at the very least in the coming weeks.
The dollar is a little weaker against the rest of the major bloc but trading ranges remain a little narrow for the most part. Although prices are mostly pushing to the extremes, the changes are relatively minor with EUR/USD still sitting in a 20 pips range and GBP/USD in a 28 pips range.
The loonie is accompanying the dollar at the bottom as it is unable to gather pace as oil prices remain near flat levels despite the more upbeat risk tones.
Looking ahead, European equities should display mild gains and that should keep risk currencies slightly elevated in what will be a session that will be lacking in terms of economic data releases. Hence, trading will depend a lot on the ebb and flow as we ease into the new week.
