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USD index consolidated with the downside of EUR and GBP

USD index consolidated at higher level with some downside risk on EUR and GBP on starting of the week, global equities market lowers down with the continuation of broadly risk off sentiment and that hurts USDJPY and JPY cross as well. USDJPY also go low in Nikkei -2.21% and comment of Trump’s top economic adviser urged the Fed to rate the interest rate “very slowly” ignoring the practice from preceding administrations of avoiding comments on monetary policy. Also risk off sentiment driven more YEN cross selling to start the week as well.

EUR lowers down after the Sunday’s news of Germany interior minister Seehofer’s potential resignation after Merkel brought the migration deal back to table and CDU and CSU are said to meet again later.

Brexit concerns also hurting the GBP and more risk for hard Brexit as time getting closer and still many issues not yet to be fixed.

Tomorrow RBA meeting and expecting the central bank on keeping rate unchanged at 1.5% will may have little impact for AUD accordingly. Today German, Eurozone, UK and US Manufacturing PMI data, US ISM manufacturing PMI, construction spending and stock/bond market move will dominate the intraday action.

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