Sterling Traders Fade Rate Cut Bet, Risk sentiments positive
Updated 10:00AM 22/01/2020
SEK and NOK are the top G10 FX gainers today, up 0.19% and 0.19% vs the dollar while CHF and JPY are the top losers, down -0.34% and -0.08% vs the dollar. The U.K. employment data showed that the economy added jobs at its highest rate in over a year, likely weakening chances for a Bank of England rate cut. This may help sterling as risk sentiments are improved after the U.S.-China phase 1 trade deal. The euro remained near a month low amid expectations that the European Central Bank would strike a cautious tone in their meeting on Thursday. In the Asian equities space, the Nikkei 225 closed up 0.70% at 24,031.35, Hang Seng closed 1.27% at 28341.04 and Kospi ended 1.23% at 2267.25. The European equities were trading mixed with the FTSE 0.08% at 7616.93, DAX 0.13% at 13573.26, and CAC -0.07% at 6042.06. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.776% and the Bund 10-year yield trading at -0.245%. In the energy space, the Brent (front month) is trading down (-0.57%) for the day at $64.22.
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