Forex today: dollar and rates down, euro and sterling on a tear

The DXY was lower today, down -0.41% at the time of writing while the ten-year US benchmark -0.08% in a range between 2.2711% - 2.3031%. US data was mixed and second tier while most of last week's poor performances were still casting a dark cloud over the US economy in the eyes of traders. 

In stark contrast, today's European data and CPI made for a higher euro. 1.1845 was the fresh high for the year. Sterling was also on a tear, making a high of 1.3204 offered. The yen took advantage from a weaker dollar as well and was eyeing a break of the psychological 110 handle, although held up at 110.20 from 1110.74 highs. The Dow Jones printed a fresh record high of 21,927.30 and held up the yen's advance.

Metals were well bid again and offered the commodity bloc a lift with the Aussie testing on the 0.80 handle ahead of today's major risk event in the RBA and possible jawboning in respect to the value of the Australian dollar; AUD/USD too high for comfort for the RBA? The Kiwi moved into a phase of consolidation mid morning until making a break higher back onto the 0.75 handle. The USD/CAD lost the 1.25 handle on a sell-off to 1.2431 with WTI spiking to $50.53, continuing with its bullish tone. 

Key events ahead in Asia

 Nikkei Mfg PMI, China Caixin Manufacturing PMI and the RBA interest rates decision

Key notes from US session

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.