From Marc to Market:
Overview: The US dollar is broadly lower. The tariff-threat inspired gains stalled and the BOJ rate hike and stronger PMI in Europe have dragged the greenback lower against all the G10 currencies and nearly all of the emerging market currencies. While the market remains vulnerable to pronouncements from Washington, and next week's policy divergence as the ECB, Bank of Canada, and probably Sweden's Riksbank cut interest rates while the Federal Reserve stands pat. Yet, much of the story has been discounted in recent weeks.
Although Japanese equities were essentially flat, other large markets in the region rose with the exception of India. Beijing has taken steps to have corporations and financial institutions to support the equity market. Mainland shares that trade in Hong Kong have done best, rising 2% today. Europe's Stoxx 600 is up for the eighth consecutive session at new record highs, while US index futures are trading heavier. European benchmark 10-year yields are 1-2 bp firmer. The 10-year US Treasury yield is a little softer near 4.63%, which is nearly flat on the week. Gold is bid and around $2775 it is approaching the record high set last year around $2790. March WTI marginally extended yesterday's loss to about $74 a barrel but is recovering and straddling the $75 area as the North American market prepares to open....
....MUCH MORE
At the moment DXY futures are down .39 at 107.48.
