PCE and Personal Income & Spending for January all printed in line with their forecasts with no strong beats or misses to impact markets as USD remains strong.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bearish contrarian trading bias.
Surging US real yields and bets that the Federal Reserve may have to hike rates sooner than expected could open the door for USD to recover lost ground against the…