• Dollar continues to get checked back to start the week
• BOE’s Mann: Markets are pricing in too many rate cuts
• ECB’s Muller: We are closer to the point to start cutting rates
• BOJ notes that core inflation measures were lower in February than in the month before
• Germany April GfK consumer sentiment -27.4 vs -27.9 expected
• Spain Q4 final GDP +0.6% vs +0.6% q/q prelim
• Large ship collides with Francis Scott Key Bridge in Baltimore, causing it to collapse
• China president Xi reportedly to meet with US business executives later this week
• North Korea shuns proposed summit with Japan

Markets:

• NZD leads, CHF lags on the day
• European equities higher; S&P 500 futures up 0.4%
• US 10-year yields down 1.3 bps to 4.239%
• Gold up 1.1% to $2,196.42
• WTI crude up 0.2% to $81.56
• Bitcoin down 0.4% to $70,655

It was a slow session in terms of headlines but there were some decent market moves overall.

The dollar continues to be checked back as it slips a little further to start the new week. And that comes as the risk mood is faring better after the sluggish showing yesterday.

EUR/USD is up 0.2% to 1.0860 although large option expiries are keeping a lid on the pair for now. Meanwhile, GBP/USD is also up 0.2% to 1.2660 as buyers contest the 100-hour moving average at 1.2667 on the session. USD/JPY was more muted though, holding little changed at 151.35 in a mere 25 pips range today.

The Swiss franc is the laggard as USD/CHF keeps above 0.9000, with the SNB rate cut still reverberating. As for commodity currencies, they are taking advantage of the better mood in equities for now. USD/CAD is down 0.2% to 1.3560 while AUD/USD is up 0.2% to 0.6553 on the day.

In the equities space, things got off to a lackluster start but we are seeing some quiet optimism seep through now. S&P 500 futures are up 0.4% and European indices are pushing higher as well, not letting up on the gains in the last few weeks.

In other markets, gold is also ripping higher as the bulls eye another attempt at the $2,200 level. The precious metal is up over 1% to sit around $2,196 currently. Meanwhile, Bitcoin saw a brief surge up to $71,569 before pulling back a little in volatile trading so far today.

Outside of markets, there was a tragic accident in Baltimore as a large ship collided with the Francis Scott Key Bridge and caused a portion of the bridge to collapse. Thoughts and prayers to those affected by the incident.

This article was written by Justin Low at www.forexlive.com.