USDIndex gapped up to 97.35. Confidence that US economy will b | kamal

USDIndex gapped up to 97.35. Confidence that US economy will be able to cope with the series of Fed rate hikes penciled in has returned – at least for now. Markets are also positioning for another BoE hike next week, while ECB is increasingly under pressure to justify ongoing net asset purchases for much of the year. Treasury futures are underperforming slightly, while in cash markets US 10-yr has lifted 1.6 bp to 1.82%, as stock market sentiment continued to improve, helped by positive earnings reports from Apple. China bourses underperforming ahead of Lunar New Year holidays and with concern over China’s slowing growth, Covid policies and regulatory crackdowns weighing. USOil steady at $86.00. Gold extended losses below 200-DMA to $1791.

Biggest FX Mover @ (07:30 GMT) GBPJPY (+0.34%) – Breached 155 breaking 38.2% of December’s downleg. Fast MAs turn flat now with all momentum indicators still pointing further higher. ATR (H1) 0.176, ATR (D) 1.064.