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YEN WEAKENS WHILE EQUITIES TREAD WATER

Yen played catchup with yesterday's risk on equity move, weakening across the board. An announcement from the Bank of Japan saying that they would be looking at further easing on Friday helped currencies v's Yen.

Japanese yen

German ZEW survey came in at -93.5 v's -86 expected, though there was a lot of optimism in the report showing an expectation that the rebound will get underway soon now that economies are re-opening.

Fed Chair Powell was testifying in Congress today and didn't say anything that surprised the market, continuing the viewpoint that the Fed will do all it can to support the short term market but the more fiscal stimulus is required to support the longer-term recovery of the economy; over to Congress.

FOMC MINUTES LOOM & CAN CAD MAKE A BREAK?

1900 : USD FOMC Minutes

FED cheat sheet

It's a big day tomorrow, with CAD data in the afternoon followed by FOMC minutes. USDCAD has drifted back to the lows of its recent range - will there be a false breakout to the downside before the upward momentum comes back?

#forex #SPX #Fundamentals #BoJ #USDCAD #fomc #Macro #USDJPY #yen

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