Markets were static overnight, awaiting key economic data releases and further developments on the global trade front. The Richmond Fed Manufacturers Index was negative, as was a reading of consumer confidence, but markets await key information on economic growth and inflation. The US Dollar surrendered some gains overnight, allowing the EUR to regain 1.0800, while the GBP jumped back above 1.2950.Commodity currencies gained some relief, with the softer reserve, allowing the AUD to regain 0.6300, while the NZD consolidated above 0.5700. Local markets await key inflation data out of Australia, while the UK and the US PCE Indicator are also expected later this week. Trade remains the key to market direction.
