In the financial arena, remarks from Fed Governor Waller advocating for patience regarding interest rates, and emphasizing the need for more evidence of easing price pressures, have bolstered the greenback, extending its recent upswing. Notably, the yen stands out as an exception, with concerns over potential intervention curbing bullish sentiment for the dollar.
Across the Asia Pacific, equity markets exhibit mixed performance. Meanwhile, Europe's Stoxx 600 index is on the rise for its fourth consecutive session, potentially marking its lengthiest rally in two months if sustained. US index futures are marginally down following gains from the previous session.
Despite elevated yields and a stronger dollar, gold remains resilient, hovering around the $2200 mark. May WTI crude oil is trading within the range of $81.50 to $82.00, with Monday seeing the week's peak near $82.50.

Asia Pacific
Japanese authorities are clearly indicating their readiness to intervene in forex markets to bolster the yen, influencing a shift in risk-reward dynamics and instigating concerns over potential intervention, which weighed on the dollar against the yen in recent trading. The dollar retraced from its highs near JPY152 to hover around JPY151 during early North American trading, and despite some stabilization, failed to reclaim levels above JPY151.40. Today, the greenback edged up to approximately JPY151.55.

Meanwhile, the Australian dollar, which had held above support around the $0.6500-10 region in recent sessions, succumbed to selling pressure today.

Europe
Hawkish remarks from Fed's Waller, coupled with disappointing German economic data, have exerted downward pressure on the euro, pushing it to new monthly lows around $1.0775. German retail sales witnessed a significant downturn in February, contrary to expectations of a 0.4% uptick, plunging by 1.9%. Additionally, German economic research groups have slashed their growth forecasts for the country this year to a mere 0.1%, down from the 1.3% projection made in Q4 2023.

Sterling, on the other hand, remains range-bound within last Friday's levels, exhibiting vulnerability.

America 
A slew of economic reports are due today, although attention remains focused on the impact of Fed Governor Waller's comments, which echo the sentiment of nine out of 19 Fed officials favoring fewer rate cuts this year.
Tomorrow's data and events carry greater significance, although most markets in Europe and North America will be closed. Notably, US reports on personal income and consumption are anticipated.

Meanwhile, the US dollar maintains its position at the upper end of its recent trading range against the Canadian dollar.