Equity markets continued pushing higher during Asia-Pacific trade, buoyed by progress in the global vaccine rollout and declining coronavirus cases. Australia’s ASX 200 climbed 0.91% and Japan’s Nikkei 225 surged above 30,000 for the first time since 1990, on better-than-expected GDP figures for the fourth quarter of 2020.
In FX markets, the cyclically-sensitive NOK, AUD, NZD and CAD largely outperformed, while the haven-associated USD, JPY and CHF slipped lower against their major counterparts. Gold price dipped marginally lower as yields on US 10-year Treasuries stormed 5-basis points higher. Looking ahead, trade balance and industrial production figures out of the Euro-area headline a rather light economic docket, with US markets shut for Presidents’ Day.
