FX News Today
- 10-year Treasury yields corrected from Friday’s highs and are down -1.8 bp at 2.740%.
- Stock markets in Asia initially got support from US President Trump’s agreement to a temporary end to the 35-day partial government shutdown which underpinned Wall Street on Friday.
- However, Trump also threatened to resume the shutdown on Feb 15 if his demands on the financing of a border wall are not met.
- Japan underperformed and Topix and Nikkei were under pressure from the off, while elsewhere gains faded during the course of the session as markets continue to fret over potential risk factors, first and foremost the US-Sino trade talks and Brexit.
- Topix and Nikkei lost -0.68% and -0.60% respectively. The Hang Seng is now down -0.105 and the CSI 300 down -0.06%.
- Australia is shut for a holiday and US futures are heading south.
- Oil prices fell back from a session high of USD 53.64 per barrel and the front end WTI future is now at USD 53.01 per barrel.
Charts of the Day
Main Macro Events Today
- ECB Draghi Speech (EUR, GMT 14:00) – The ECB President is due to testify at the European Parliament in Brussels.
- New Zealand Trade Balance (NZD, GMT 22:45) – The New Zealand trade balance is expected to have come out in surplus area in December, compared to a deficit in November.
Support and Resistance Levels
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Dr Nektarios Michail
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