Psychology for major markets Mar 11
Mood steadies
EUR/USD – The Euro's rebound moderately but continues to lack commitment. Without clarity from the geopolitical front, it is unlikely to exit consolidation.
USD/JPY – The reversal did not last as improving risk mood seems to be unfavorable for USD/JPY. We will likely hear more from the BoJ and Japanese officials in terms of verbal intervention as we approach the level again.
EUR/GBP – Little changed as the market's spotlight isn't here. Overall in consolidation.
AUD/USD – The Aussie rallied strongly on hawkish RBA deputy governor's remark, which triggers speculation of an imminent rate hike next week.
Equities & Others – Broader risk atmosphere is improving. However, the trend will change headline by headline and any rally could only be relief rather than strong commitment.