Not much to digest today but plenty to think about
The US dollar is modestly stronger while commodity currencies are struggling after the RBA. Sovereign yields are lower as the front end reels in some of the rate hike expectations, which are looking overdone.
In terms of news, the economic calendar is basically bare. Some comments are due at the top of the hour from the BOC’s Gravelle but it’s at a climate change conference so probably won’t be a market mover. We also get IBD/TIPP economic confidence and New Zealand dairy prices but neither are consequential.
Tomorrow is Fed day so that should also keep a lid on markets.
One spot to watch is Congress where the leadership continues to twist arms to try and get a deal around the infrastructure and reconciliation packages.
This article was originally published by Forexlive.com. Read the original article here.