Market wrap: a slight uptick in the US dollar - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: A slight uptick in the US dollar and US interest rates overnight capped the AUD and NZD. Minor US data was encouraging, but markets are more focused on tonight’s promised press conference by Trump.

Interest rates: The multi-week decline in US 10yr treasury yields stalled with a bounce from 2.36% to 2.39%, while. 2yr yields ranged between 1.18% and 1.20%. Fed funds futures pricing was little changed, continuing to price in a 100% chance of a hike by June and another by November.

Currencies:  The US dollar index is 0.1% higher, extending a multi-day consolidation. EUR fell from 1.0620 to 1.0551. USD/JPY ranged sideways between 115.30 and 116.35. AUD ranged sideways at a one-month high, between 0.7330 and 0.7385. NZD fell from 0.7048 (a one-month high) to 0.6960. AUD/NZD extended the rally which started on 3 Jan, from 1.0466 to 1.0551 – a six-week high."