•  Bulls show resilience below the 0.70 mark despite a modest USD uptick.     •  Pickup in the US bond yields/weaker commodities did little to exert pressure. The NZD/USD pair built on its modest rebound from over one-week lows and is currently placed at fresh session tops, around the 0.7015-20 region. The US Dollar

Rising global supply worries and firmer DXY weighs down on oil. Focus shifts to EIA crude data to confirm the bearish API crude inventories report. WTI (oil futures on NYMEX) seems to have caught a fresh bid-wave in the European session, having reversed a dip below the $ 66 mark, although the bounce looks shallow

The German Institute for Economic Research, commonly known as DIW Berlin, revised their German economic growth forecasts for 2018 & 2019, citing a surprisingly weak start to the year and increasing uncertainty regarding the global economy.  Key points:    •  GDP to grow 1.9% in 2018 (prior forecast 2.4%).    •  GDP to grow 1.7%

Analysts at Nomura think it is highly likely that the FOMC will raise rates at the 12-13 June meeting. Key Quotes “At this point, it would be extremely surprising were the Committee to forego a rate hike. Economic data have indicated accelerating activity over the intermeeting period, with an unemployment rate at 3.8% and inflation

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FX Strategists at UOB Group remain neutral on the pair while a test of the 111.40 region is still on the cards. Key Quotes 24-hour view: “Against our expectation, USD did not break the strong 110.50 resistance yesterday (high of 110.49). However, this level was taken out after NY close (at the time of writing,

Senior Analyst at Commerzbank Axel Rudolph noted the pair remains on recovery-mode for the time being. Key Quotes “USD/CHF remains above the 55 day moving average at .9829 and is still attempting to recover from there. The near term weakness is viewed as a correction lower and the Elliott wave count continues to indicate that