Psychology for major markets Feb 3
Risk Rebound
EUR/USD – The Euro is seeing more rebound but seems to be unable to stage a meaningful rebound. The pair remain at the mercy of USD movement.
USD/JPY – JPY bidders and sellers will be careful to not get wrong footed in the coming election. The Japanese government has ramped up their verbal intervention attempt, in order to gain voters support and may weign on JPY.
EUR/GBP – Moderately improved tone of recent UK data had EUR/GBP near the lower end of its recent range. Now looking for a fresh trigger with the pair little changed.
AUD/USD – The hawkish tilt from the RBA has pushed the pair significantly higher. The change in rate forecast may likely be supportive mid term.
Equities – Risk asset rebounded strongly on improving sentiment. Gold and Silver also recovered along.