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US index futures hold recovery into New York as S&P 500 leads, Nasdaq tests resistance
Dow, S&P 500 and Nasdaq futures trade above key session anchors in London hours after Tuesday’s rebound, but Nasdaq still needs acceptance above its upper gate to confirm broader upside continuation.
Fed: Conviction cuts and dovish reaction – ABN AMRO
ABN AMRO Senior Economist Rogier Quaedvlieg argues that under Kevin Warsh, the Federal Reserve’s ‘conviction-based’ approach and a more dovish reaction function point to lower rates despite a bullish US outlook.
Pound Sterling Price News and Forecast: GBP trades higher against its peers despite BoE
The Pound Sterling (GBP) trades higher against its major currency peers, except antipodeans, 0.23% higher to near 1.3520 against the US Dollar (USD) during the European trading session on Wednesday.
USD/CAD: Oil support and softer US trade stance cap upside – HSBC
HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive.
Japanese Yen plummets against its peers on BoJ rate hike uncertainty
The Japanese Yen plunges against its major currency peers, is down 0.6% to near 156.80 against the US Dollar (USD) during the European trading session on Wednesday.
United States MBA Mortgage Applications down to 0.4% in February 20 from previous 2.8%
United States MBA Mortgage Applications down to 0.4% in February 20 from previous 2.8%
DXY: Range holds as Fed patience persists – BBH
Brown Brothers Harriman’s (BBH) Elias Haddad notes the USD index (DXY) is trading near the middle of its 96.00–100.00 range and is expected to stay there in the near term, as it tracks rate differentials and lacks major catalysts.
USD/JPY: Reflationist BoJ board shift seen limited – Rabobank
Rabobank’s Jane Foley notes that Prime Minister Takaichi’s decision to nominate reflationist academics to the BoJ Board has unsettled the Japanese Yen and JGBs, but she argues the overall policy tilt is unlikely to change significantly.
US: Mixed confidence data cloud outlook – TD Securities
TD Securities’ Global Strategy Team notes that US consumer confidence data surprised to the upside in February, mainly due to upward revisions to January. The present situation index weakened, while expectations improved, leaving the overall tone mixed.
EUR/USD rises to 1.1800 neighborhood amid renewed USD selling and trade uncertainties
The EUR/USD pair regains positive traction during the Asian session on Wednesday and jumps to the 1.1800 neighborhood in the last hour, reversing the previous day's modest losses.
Japanese Yen steadies against US Dollar following Trump’s SOTU
USD/JPY loses ground after registering gains in the previous session, trading around 155.90 during the Asian hours on Wednesday.
Gold advances back closer to $5,200 mark amid geopolitical tensions and USD weakness
Gold (XAU/USD) attracts some dip-buyers following the previous day's modest pullback from the monthly top and climbs back closer to the $5,200 mark during the Asian session on Wednesday.
President Trump’s SOTU: One of the main reasons for US economic turnaround is tariffs
US President Donald Trump is delivering the first State of the Union (SOTU) address of his second administration before a joint session of Congress on Wednesday.
Japan’s Ozaki: Specifics of monetary policy are to be left to the BOJ
Japan’s Deputy Chief Cabinet Secretary Masanao Ozaki said on Wednesday that specifics of monetary policy are to be left to the Bank of Japan (BOJ).
US Dollar Index holds losses below 98.00 after Trump's SOTU speech
The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 97.80 during the Asian trading hours on Wednesday. The DXY remains weak after US President Donald Trump delivered a speech.
AUD/JPY holds gains above 110.00 following Australia’s CPI data
AUD/JPY extends its gains for the second successive session, trading around 110.10 during the Asian hours on Wednesday.
Canadian Dollar flat lines vs. USD as traders eye Trump’s SOTU speech for fresh impetus
The USD/CAD pair trades with a mild negative bias during the Asian session on Wednesday, though it lacks bearish conviction and remains close to the monthly peak touched the previous day.
WTI declines to near $66.00 on US crude stock surge, traders monitor US-Iran developments
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.05 during the early Asian trading hours on Wednesday. The WTI price declines amid a significant build in US crude stockpiles.
PBOC sets USD/CNY reference rate at 6.9321 vs. 6.9414 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Wednesday at 6.9321 compared to the previous day's fix of 6.9414 and 6.8824 Reuters estimate.
Silver Price Forecast: XAG/USD falls to near $87.00 due to China-driven liquidation
Silver price (XAG/USD) continues to lose ground for the second successive session, trading around $87.20 per troy ounce during the Asian hours on Wednesday.
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