Entering into European session, Australian Dollar is the strongest one for today so far, followed by New Zealand Dollar. RBA kept interest rate unchanged and downgraded growth and inflation projections. But after all, the central bank remained confident that inflation will gradually pick up. Thus, the next move will still more likely be a hike than a cut. That’s the factor that keeps Aussie buoyed.
Euro is currently trading as the weakest one for today, followed by Swiss Franc and the Dollar. The greenback attempted for a rebound yesterday. But apparently, the rebound was rather weak. Dollar remains near term bearish against Euro, Sterling, Aussie and Canadian. And Dollar is only performing marginally better against Swiss Franc and Yen.
In Asia:
- Nikkei closed down -0.19% at 20844.45.
- Japan 10-year JGB yield is down -0.0032 at -0.015, staying negative.
- China, Hong Kong and Singapore are on lunar new year holiday.
Overnight:
- DOW rose 0.7%.
- S&P 500 rose 0.68%.
- NASDAQ rose 1.15%.
- 10 year yield rose 0.033 to 2.724, back above 2.7 handle.
