EUR

Traders are moving onto a more cautious footing today as the prospect of a ‘hawkish hold’ at tomorrow’s Federal Reserve meeting comes into view. The dollar is trading on a modestly weaker footing against the yen and euro, but is maintaining strength relative to most other majors as interest rate differentials continue to provide lift. The Canadian dollar is softening ahead of a much-awaited gross domestic product report. Yields were left unmoved yesterday afternoon after the Treasury said it would borrow more than expected over the coming quarter. According to its updated quarterly refunding plans, the federal government will issue...

Good morning, and welcome back. The US dollar and Treasury yields are holding steady at elevated levels after a first-quarter gross domestic product report pushed easing expectations further out. North American equity indices are advancing in the premarket on the back of another set of monster earnings releases from Microsoft and Alphabet. Oil prices are stable, and risk-sensitive currencies are eking out small gains on the crosses. Data out yesterday morning showed quarterly inflation accelerating for the first time in a year, even as the American economy slowed more than expected. The core personal consumption expenditures deflator rose at an...