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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

FOREX
FOREX: Sentiment has improved amid hopes that the spread of Wuhan coronavirus
can be contained (their basis is somewhat questionable as of yet) & its economic
impact mitigated. In addition, China decided to halve additional tariffs on
$75bn worth of U.S. imports from Feb 14. The yuan appreciated in spite of a
higher than exp. fixing of the USD/CNY mid-point from the PBoC.
- Safe haven currencies lost some ground, to the benefit of high-beta FX. The
Aussie outperformed its G10 peers, drawing some support from an above-forecast
quarterly retail sales print, even as the monthly reading missed consensus.
USD/JPY threatens to break above Y110.00, but is yet to test the round figure.
GBP underperformed in the wake of yesterday's BBG report re: EU plans to unwind
concessions to the City of London made in the bloc's financial rulebook.
- Most Asian EMFX firmed up in tandem with risk appetite. KRW led gains in the
space, with USD/KRW falling the most in a month. SGD & THB swam against the
tide, after y'day's dovish comments from the MAS & a rate cut from the BoT.
- Under the microscope today are German factory orders and speeches from Fed's
Kaplan, ECB's Lagarde & her colleague Villeroy.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com