Overall market sentiment turned more positive after Fed officials jumped out to talk down the prospect of a 50bps hike in March. Australia Dollar is trading broadly higher, following risk-on sentiment, and shrugs off cautious comments from RBA Governor. Euro is following as the second strongest for now but has lost much momentum in crosses already. Dollar is recovering some ground but stays soft in general, together with Yen. Technically, attention stays on some levels in Dollar pairs, including 1.1299 minor resistance in EUR/USD, 1.3523 minor resistance in GBP/USD and 114.46 minor support in USD/JPY. As long as these levels holds, there is still prospect for Dollar to resume recent rally sooner rather than later. Similarly, as long as 129.76 minor resistance in EUR/JPY and 155.38 minor resistance GBP/JPY hold, Yen crosses could have another dive. In Asia, at the time of writing, Nikkei is up 1.73%. Japan 10-year JGB yield is down -0.0001 at 0.182. Hong Kong, China and Singapore are still on Lunar New Year holiday. Overnight, DOW rose 0.78%. S&P 500 rose 0.69%. NASDAQ rose 0.75%. 10-year yield rose 0.018 to 1.800. |
