The $ continues to test the fringes of bullishness

Not to beleaguer the ongoing developments in the US Bond markets, but while ten years US yield count on the Greenbacks measuring tape, the unwinding of the USD geopolitical risk premium goes on and price action suggests we should expect the fringes of significant USD bullish structural levels to get tested.

With that in mind, today is all about pre-positioning for the dual summit of the Koreas headline risk, which should evolve into a market-friendly dynamic for both EM and DM economies.

On the ECB front, separating the wheat from the chaff is alway’s a challenging exercise when it comes to Mario Draghi, but the high bar for dovishness was met and perhaps vaulted as price action suggests

Not surprisingly earnings season continues to dominate the equity landscape as investor revel in the fantastic profit results and confirming a 3 % ten-year yield is of little concern to the markets.
Oil prices continue to rise as investors are waking up to the reality of global demand dynamics suggesting we’re in the midst of shifting from a supply overload to a shortage of crude in the years ahead.Trade wars are on the back burner, and geopolitical risk is unlikely to abate,  so the path of least resistance should be higher for the foreseeable future

On the currency market, the song remains the same, and the greenback looks comfortable testing the bullish fringes. The BoJ is unlikely to shift the dial, but caution prevails given the robust economic number.
Gold remains a complete dollar trade but as we near the 1315 attraction zone I suspect buyer will emerge, but the tale of the tap suggest a wait and see approach ahead of tonights GDP print