February 8, 2023

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Positive risk sentiment fades

1 min read

Higher yields weighing

It’s tough to say how much of this move is month end and how much is something else. It’s certainly not the Fed, which ended any talk of tapering for now.

In any case, it’s hard to hate risk positive trades right now. They’ve had a good run and there’s always a chance of a quick correction but it’s tough to see a catalyst. Today is the busiest day of earnings for the quarter and you can always find the good and bad in that many reports. There’s plenty of inflation talk but hardly any economic caution.

AUD/USD has given back about 40 pips from the start of North American trade.

Higher yields weighing

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