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Commodities currency slightly higher?


USD weakens overnight despite of higher UST yield (10 years 2.64%) and slightly in retracement of US stock. Together with the market, USD is still having some worries for gap funding vote (Senate vote today). EUR stays in sideway consolidation ahead of Sunday’s Germany SPD congress voting. Whether joining the Merkel coalition government or ECB meeting risk event next Thursday. GBP goes higher on cross strength but weak in USD effect. Unlike ECB vebral intervention, BOE still silent on the GBP recent upmove effect. Commodities currency higher slightly on weak USD tone despite the lower in oil. Also GOLD goes higher and offset some selling pressure. Today UK retail sales, US Michigan Consumer Sentiment Index as well as stock/bond market move will have some intraday impact. Some position adjustment ahead of weekend also adding more sideway consolidation for the USD.


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