Yesterday a number of markets were closed for May day celebrations, however we had some data reported out o fthe US. ISM manaufacturing data, Personal Spending & Personal Income all slipped lower.
The USD closed higher yesterday but looking at the US Dollar index (DXY) we see that overall the price moves remained within a range so far.
The USD reflected what US Treasury Secretary Mnuchin said in an interview to Bloomberg yesteday. Mnuchin said that ultra-long bond issuance is something they were considering and that could make sense in order to finance the US government.
Mnuchin’s interview helped support long term treasury yields and in turn this also reflected positively on the USD.
In the meantime, earlier this morning the Reserve Bank of Australia (RBA) left rates unchanged at 1.5% as had been been widely expected. Governor Philip Lowe continued to highlight the challenges presented by the housing market. The Aussie has been overall higher so far today across the board.
