In his comments to the Financial Times, US Treasury Secretary Steven Mnuchin, helped the US Dollar stir away from its recent lows. The US Dollar index (DXY) had recently tested lows of 100 seen at the end of last week. Last week the USD suffered losses when President Trump was quoted as saying that the USD was too strong.
Overnight performances in Asian markets remained mixed as markets come back after the easter break. The recently invigorated geo-political tensions seems to have somehow eased a bit as well.
The Aussie is weaker across the board, at the time of writing. Earlier this morning the RBA released the minutes of the April rate meeting. The comments noted a weakening in the labour market and the persistent rise of property prices that continues to outstrip the growth of household incomes.
As we leave behind the easter holidays volumes should slowly be coming back. In today’s economic docket we have US Housing starts, Industrial Production and Capacity Utilisation amongst other less impact data.