The USD is weaker at the start of the US session, with the EUR showing the most upward movement, gaining nearly 0.80%. The GBP and JPY are also higher, up about 0.3% versus the dollar.
The EURUSD is trading near 1.0695, testing key levels, including the 200-day moving average. The USDJPY is fluctuating above 149.22 following BOJ comments about gradual rate hikes, while the GBPUSD has outperformed, surpassing its 200-day moving average.
Market Trends And Yields
US yields have risen with a steeper yield curve, and stock futures suggest a rebound after previous declines. Significant movements are also noted in European indices, with the German DAX up 3.3%.
Key updates include Trump’s focus on tariffs and economic measures, BOJ’s gradual rate increase approach, and the RBNZ’s leadership transition. US mortgage applications surged by 20.4%, driven by refinancing, as the mortgage market remains at late December’s levels. The White House reports progress in peace talks, potentially impacting aid to Ukraine.
Currently, crude oil and gold have decreased, while silver and Bitcoin have seen gains.
The dollar has started the US session on the weaker side, with the euro leading in strength. A rise of almost 0.80% places EURUSD near 1.0695, where it is testing levels that many watch closely, including the 200-day moving average. Meanwhile, the pound and yen have seen modest gains of about 0.3% against the greenback.
USDJPY has been moving above 149.22, still reacting to statements from policymakers in Japan discussing a careful approach to increasing interest rates. Sterling, on the other hand, has performed better, pushing past its own 200-day moving average—a technical signal that often shifts sentiment.
In US bond markets, yields have climbed, and the curve has steepened, suggesting expectations around growth and policy are shifting. Futures tied to American stock indices point to a recovery following previous declines. European equities have also advanced, with the DAX rising by 3.3%.
Economic Policies And Global Updates
Among policy updates, Trump has remained focused on trade actions and economic policies, while adjustments in interest rates remain a topic for officials in Japan. In New Zealand, a transition in the Reserve Bank’s leadership could bring adjustments in policy down the line. Meanwhile, mortgage activity in the US has picked up sharply, jumping 20.4%. Most of this increase has come from refinancing demand, though applications still reflect levels last seen in late December.
Further developments include updates from the White House on diplomatic efforts, with reports of progress in negotiations that could impact aid policies regarding Ukraine.
Commodity markets have moved in different directions. Oil and gold have slipped lower, while silver and Bitcoin have gained.
