The USD is marginally on the backfoot early on Monday, BBDXY is ~0.1% softer. E-minis have firmed on a BBG source report released late on Friday which suggested that “U.S. authorities are considering expanding an emergency lending facility for banks in ways that would give First Republic Bank more time to shore up its balance sheet, according to people with knowledge of the situation.” Also note that the weekend saw CNBC sources note that “the surge of deposits moving from smaller banks to big institutions including JPMorgan Chase and Wells Fargo amid fears over the stability of regional lenders has slowed to a trickle in recent days.”

• AUD/USD is firmer, last printing at $0.6650/60 up ~0.2%. The trend condition remains bearish, however the bull cycle that started Mar 10 remains in play for now. Resistance is at $0.6769, 50-Day EMA and support is seen at $0.6625 the low from Mar 24.
• Kiwi is also firmer, NZD/USD last prints at $0.6205/10. RBNZ noted on Monday that capital ratios of the countries banks remain resilient during the most severe weather events though more studies were needed to understand how they could compound other risks to the financial system
• Yen is maringally pressured, USD/JPY is up ~0.1%. Japan's Feb Services PPI printed at 0.2% rising from the Jan print of -0.3%.
• Elsewhere in G-10 EUR and GBP are both ~0.1%, however ranges are tight and moves limited thus far.
• E-minis are ~0.6% firmer and US 10 Yr Treasury futures are softer.
• There is a thin data calendar in Asia Pac today. Further out Dallas Fed Manf. Activity headlines an otherwise thin docket.