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BUND TECHS

(U1) Bearish Risk Still Present

OIL

Familiar Focal Points

EQUITIES

In The Green

GOLD

Will PCE See A Reaction?

FOREX

Risk-On Feel Remains

FOREX
FOREX: Australian labour mkt report sent AUD rallying, as a combination of
larger than exp. surge in jobs growth and a steady participation rate produced
an unexpected downtick in unemployment, to 5.1% from 5.2%. Jobs addition was
driven purely by the part-time component, but the release was still well
received. Mkt pricing of a rate cut at the next RBA meeting fell to ~24% from
y'day's ~57%, with several desks revising their RBA calls. AUD/USD topped out
just shy of its 200-DMA and despite trimming gains sits atop the G10 pile.
- CAD underperformance carried through into the Asia-Pac session, after y'day's
"dovish hold" from the BoC. A softer WTI exacerbated CAD's wounds, but NOK was
unfazed. Coronavirus worry undermined regional equities, to the benefit of JPY.
- The yuan softened during the last trading day before China's Lunar New Year
holidays, with headlines re: coronavirus providing the focal point. KRW moved in
tandem. Only IDR defied gravity, printing fresh multi-year highs vs. USD.
- Monetary policy decisions are due from the ECB, Norges Bank and Bank of
Indonesia. Also of note are Swedish and Norwegian unemployment figures and
advance EZ consumer confidence. Riksbank's Ingves will speak on a panel.