The index extends the range bound theme this week near the 102.00 region on the back of alternating risk appetite trends.
In the meantime, US yields keep navigating the upper end of the curve and remain propped up by firmer conviction of a 25 bps rate hike by the Fed at the May event. On this, CME Group’s FedWatch Tool sees the probability of such a scenario at around 85%.
Data wise in the US calendar, usual MBA Mortgage Applications are due in the first turn seconded by the EIA’s weekly report on US crude oil inventories and the release of the Fed’s Beige Book will close the session.
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