The dollar is generally weaker across the board
Markets are very much sending mixed signals as we begin the new day with currencies keeping focus on a weaker dollar for the most part while Treasuries are very much steady in trading so far. However, the negative tones continue in the equities space with Asian stocks mostly lower and US equity futures down by about 0.6% ahead of European trading.
The aussie is leading gains as it firms after the RBA left its cash rate unchanged but those gains have leveled off a little with AUD/USD holding at 0.7036 now after hitting a high of 0.7048 just after the decision.
Meanwhile, other major currencies are advancing against the greenback with the pound recovering some poise after cable fell below the 1.3100 handle in overnight trading. The loonie continues to hold firm as oil prices are steady following a stunning recovery yesterday, with USD/CAD holding at 1.3425 currently.
The euro continues to pivot around the 1.1200 handle against the dollar with price sitting just above the figure level now as traders look to settle on a narrative in the coming session. If anything, I'd still be wary of changes to risk sentiment in the day ahead.
