After and up and down session, US equities ended the day higher, marking a fifth consecutive day of gains. A light trading environment however hints at market cautiousness ahead of President Trump’s State of the Union speech. Meanwhile European equities closed smartly higher boosted by solid BP earnings. The US Dollar has retained its nascent upward trend, in spite of a broad decline in US Treasury yields. Sterling has been the big G10 underperformer following a much weaker than expected UK Services PMI and AUD has given back most of its post RBA gains. Focus now turns to RBA Lowe’s speech ahead President Trump’s State of the Union address.
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