2026-02-27 09:30:00
The broader market sentiment is one that looks to be more cautious, especially with the sudden hit in Wall Street overnight. In the end, US stocks ended lower but it could’ve been worse. Tech shares led the declines as the S&P 500 fell by 0.5% and Nasdaq by 1.0%, while the Dow closed flat.
That’s keeping traders on edge with major currencies also not up to much today. The changes are light and besides sizing up the overall risk mood as well as geopolitical and trade headlines, there are other individual factors in play for some major currencies.
Here’s a look at the changes among dollar pairs so far on the day:
It’s really not hinting at much with the broader market focus hinging on a couple of factors as we look to wrap up the week/month.
USD
– Geopolitical tensions remain a key risk element, with eyes on US-Iran mostly
– Traders are also still digesting tariff plans by the US administration, although there is more time to take all of that in
– Overall risk mood also remains on edge after tech shares took a knock yesterday, failing to gather courage from Nvidia earnings
– Month-end flows also in consideration ahead of the London fix later today
EUR
– Large option expiries at 1.1800 likely to help lock in EUR/USD until US trading
JPY
– Intervention risks continue to stay in play as USD/JPY keeps above 155.00 and rebounds above 156.00 on the day
GBP
– A knock back yesterday saw GBP/USD test the 200-day moving average, so that remains the key level in focus
– Political risks come back into the picture after Labour was humiliated in the Gorton and Denton by-election
CHF
– Geopolitics is the key thing to watch, in case it triggers a more risk-off mood
– Likewise, heavier selling in equities and risk trades could also be the trigger to underpin the franc
CAD
– GDP data in focus but all eyes will stay on the oil market (Middle East tensions) as an indirect influence
AUD & NZD
– Trading sentiment will ride on the dollar mood but mostly on broader market sentiment as well
– As such, geopolitical risks and any risk-off triggers will be the key thing to watch before the weekend; positioning plays included
