Since last weeks hawkish FED speakers and relatively strong data USD has been pushing higher though without much in terms of gains. Still USD index seems to be entering back into a bullish trend and should be bought at weaknesses, the catch here is choosing the right pairs have become much more important in the last few weeks. USDJPY seems to be a good pair with some policy support though it has to be said, with much monetary support JPY lost ground until today for the last three years. Will this fiscal spending help push JPY lower? Possibly not as much as people think but for the time being the trend has started and numerically it is there. USDCAD has been trying to reverse the recent weakening trend but oil is not helping much so far. Gold downtrend has been relatively strong and higher US rates and favorable levels got people to sell. Emerging Markets are still in a correction mood, after last week's USD buying across the board this week's payrolls are the main event. Frankly, I think payrolls at this point is not a great indicator for USD anymore as our main focus should be inflation at this poing. Today will still be quiet as people return from Good Friday weekend but this week we should see this USD strength try to push through levels here.
