Economic data coming up in the European session

By Justin Low7 days ago

Euro area final PMI figures for April on the agenda today

The dollar was comfortably higher in trading yesterday, which saw some twists and turns with equities wobbling and US Treasury secretary Yellen weighing in on rates.

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On the latter, it is a bit peculiar to see Yellen step on the toes of the Fed (does she really miss her old job that much?) but she did attempt to walk that back later in the day.

Tech was the biggest loser amid another rotation into value stocks with the Nasdaq closing down nearly 2% while the Dow had a late surge to close mildly higher by 0.1%.

The greenback is giving back some of its advance from yesterday but not much, with the kiwi bolstered by a strong NZ labour market report earlier in the day.

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