American FX Outlook: Uneventful Wednesday ahead with a focus on US Treasury yields

Mario Blascak, PhD Independent Analyst

What you need to know before markets open

The US 10-year Treasury yields keep on rising settling above 3.00% with 3.02% intraday high on Wednesday.
The US Dollar is being well supported by the US Treasury yields rise.
The uneventful day in Europe saw the French consumer confidence picking slightly up in April before the ECB Governing Council meets on Thursday.
The International Energy Agency´s crude oil inventories headline the day together with the Bank of Canada Governor and Deputy Governor testimony.

Wednesday’s market moving events

IEA crude oil inventories are due to fall -2.648 million barrels.
The Bank of Canada Governor Stephen Poloz is due to testify along with Senior Deputy Governor Carolyn Wilkins before the Standing Senate Committee on Banking, Trade, and Commerce, in Ottawa at 20:15 GMT.

Major market movers

The Euro is trading lower at around 1.2200 level as the US Treasury yields rose above 3.0% in support of the US Dollar.
The US Dollar rose 0.3% to trade at around 109.20 against the Japanese Yen.
No major market moves are expected during the macro dry US session.

Earlier in Asia/Europe

Japan's all industry index rose 0.4% m/m in February, up from -1.1% m/m in January.
French consumer confidence increased to 101 in April, up from 100 in March and February.

Author

Mario Blascak, PhD

Independent Analyst

Dr. Mário Bla&scaron;čák worked in professional finance and banking for 15 years before moving to journalism. While working for Austrian and German banks, he specialized in covering markets and macroeconomics.

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