Australian Dollar is under broad based pressure today after surprised turn in RBA Governor Philip Lowe’s stance. To him, the next interest rate move is no longer more likely a hike, but evenly balanced. Aussie reversed all of yesterday’s gains and is indeed the weakest one for the week too. New Zealand Dollar follows as the second weakest for today and then Canadian.
Meanwhile, Yen jumps broadly today even though there is no sign of risk aversion. It’s probably more due to the selloff in Aussie again. Sterling is recovering some ground too. Dollar follows as the third strongest while Trump’s State of Union Address is largely ignored by the markets.
For the week, Dollar is so far the strongest one, followed by Kiwi and then Yen. Aussie is the weakest, followed by Sterling and then Euro.
In Asia:
- Nikkei is currently up 0.27%.
- Japan 10-year JGB yield is down -0.0082 at -0.017, staying negative.
- China, Hong Kong and Singapore are still on lunar new year holiday.
Overnight:
- DOW rose 0.68%.
- S&P 500 rose 0.47%.
- NASDAQ rose 0.74%.
- 100year yield dropped -0.022 to 2.702, defended 2.7 handle.
