Daily Alert – Wednesday 23rd February 2022: Markets buoyant despite Russian actions

Mark NugentDaily Alert, Feb 2022

Daily Alert – Wednesday 23rd February 2022: Markets buoyant despite Russian actions

Good morning.

Despite the Russia/Ukraine shenanigans, yesterday was risk-on with equities and the US 10-year bond yield rising, and GOLD and the JPY falling. These moves are coherent with the sentiment.

This positive sentiment seems to be continuing today. Most equity indices are close to support, which is a good position to trade long. AUDJPY long is interesting based on weak JPY and strong AUD. An alternative to AUD would be NZD, which has been boosted by this morning’s hawkish Reserve Bank of New Zealand commentary on the economy and the beginning of quantitative tightening.

We’ll be back tomorrow.

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