* Brazilian President Luiz Inacio Lula da Silva wants to deepen trade ties with India, the world's...
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The BBDXY USD index is down 0.2% today at 1209.86 off the intraday low of 1209.18 with the fall broad based across G10 currencies. It reached 1211.95 early in the session but has been pressured by lower US bond yields with the 2-year down around 3bp from Friday. Kiwi and Aussie have benefited the most as risk appetite also improved and drove equity markets higher across the region.
Schatz futures remain in a bull cycle, however, the sharp pullback last Thursday does undermine the recent bull theme. A resumption of gains would highlight the fact that the retracement has been a correction. Initial resistance to watch is 107.475, the May 27 high. A break would be a bullish development. For bears, an extension lower would instead expose the key support at 107.125, the May 12 low.
Nordea now look for the Riksbank to deploy a 25bp rate cut in June.