Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
The Australian bonds remained flat during Asian session of the last trading day of the week Friday amid a muted trading session that witnessed data of little economic significance amid rise in China’s death tolls from the Coronavirus.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, hovered around 1.049 percent, the yield on the long-term 30-year bond traded flat at 1.654 percent and the yield on short-term 2-year also remained steady at 0.752 percent by 05:10GMT.
Reciprocity came in terms of a return Valentine’s Day present with China’s announcement to halve tariffs on $75 billion of US goods from February 14, the same day that the US will halve the tariffs on $120 billion of Chinese imports, OCBC Treasury Research reported.
This gesture may help to illustrate China’s sincerity to meet its obligations under the Phase 1 trade deal. That said, China’s death toll from the coronavirus has risen to 636, whilst CNOOC has declared force majeure on some LNG contracts, suggesting that the coronavirus was beginning to impact business operations, the report added.
Meanwhile, the S&P/ASX 200 index traded tad -0.49 percent lower at 6,949.50 by 05:15GMT.
