 Trading in the forex markets has been relatively subdued today, with major currency pairs and crosses remaining within Friday’s range. There was some initial reactions to the latest news of US tariffs on metals, but the impact has faded quickly. Dollar is currently mildly stronger in tight range and Yen is on the softer side. Broader market sentiment also appears stable, as European equities trade in positive territory and US futures indicate a slightly higher open. Meanwhile, Gold is the standout asset, continuing its record-breaking rally with steady momentum. Looking ahead, Australian consumer and business confidence data will be a key focus in the upcoming Asian session. Market expectations for RBA to begin rate cuts at its February 17-18 meeting have surged, with a 93% probability priced into money markets. The country’s major banks are also aligning with this view, citing the softer-than-expected Q4 trimmed mean CPI as a signal that inflation is sustainably cooling. The upcoming sentiment indicators will provide further clues on whether consumers and businesses are adjusting expectations for looser monetary policy.... |
