USD moving a little higher in the NY session
The CAD has gotten stronger in the NY/North American session. The BOC kept rates unchanged but the comments were a bit more upbeat. The CAD crosses are fairing the most with the CADJPY (+0.63), the GBPCAD (+0.62%) and AUDCAD (+0.56%) doing the best. Against the USD, the CAD has improved by 0.39%.
Speaking of the USD, it is a higher in the NY morning. It shows gains against all the major currencies with the exception of the CAD and the NZD. The greenback has increased the most against the JPY in the midday snapshot, but is off the highs. The USDJPY moved up to the 200 hour MA at 112.072, but is back below the MA level (the high reached 112.12 but could not close above the MA level.
The ranges for the day remain mostly below the 22-day averages with the exception of the CAD pairs.
The Fed minutes are ahead at 2 PM. For a preview from your favorite bank analyst can be found by CLICKING HERE. Will there be more details about the balance sheet taper? The Fed is expected to tighten in June. That story should not be in jeopardy in the minutes.
US stocks are still little changed but higher. The S&P is up 1.32 points or 0.06%. The Nasdaq is up 8.366 points or +0.14%.
US yields are back down to unchanged area across the curve after moving up by 1 to 2 bps.
Spot gold is up $2.50 to $1253.63
WTI crude oil is down $-0.29 despite a higher than expected draw down in inventories.
