Psychology for major markets Feb 18

EUR/USD – The Euro seems to have lack momentum in any rally. The pair is being dragged by strong USD.

USD/JPY – JGB yields, while seems to suggest market confidence in Japanese fiscal policies are recovering, has been choppy in the front end. The ebbs and flows in JGB yields have led to the choppy consolidation in USD/JPY.

EUR/GBP – The pair turned lower as Sterling hold on better on a solid USD day.

AUD/USD – The Aussie has treaded lower on the day despite positive metals and risk asset. It looks like there maybe strength in the coming sessions if correlation plays out.

Equities –  Broader risk atmosphere is positive, so as precious metal. However, both need to see a sustainable rally or it will just be a dead cat.