Forexlive Asia-pacific FX news wrap: Optimism creeps back in as Washington turmoil ebbs ...Middle East

Senate Democrats back off on government shutdown threatsSchumer confirms that Democrats will vote to keep government openOntario premier: We had a very productive meeting, will have another next weekCanada finance minister: We agreed to maintain dialogueLutnick releases statement after meeting Canadian officials (spoiler, it doesn't say much)Bessent: Hopefully we don't get a recursive Biden-flationEU's Kallas: It's most likely that Russia will agree to ceasefire with conditionsJeff Gundlach sees a 60% chance of a US recession this year, sees gold hitting $4000Fox Business reporter sends mixed messages on hopes for Mexico-Canada tariff reliefNew Zealand February food price index -0.5% vs +1.9% priorNew Zealand manufacturing PMI 53.9 vs 51.4 prior

WTI crude oil up $0.45 to $67.00US 10-year yields up 2 bps to 4.29%S&P 500 futures up 0.8%Hang Seng +2.4%Nikkei +0.8%NZD leads, JPY lags

It's a nice risk-on day to wrap up the Asian trading week and there aren't really any caveats in the price action as all the risk-positive moves are unfolding in the textbook way.

There are also those looking to buy dips in risk assets and some real strength in China today is adding to the enthusiasm. So far, the moves in FX are modest outside some decent yen selling. Headlines out of Tokyo so far today have been minimal.

The problem here is that you can't have gold rising on tariff worries rising and stocks climbing on tariff worries receding. Eventually that will have to unwind but at the momentum, $3000 is such a magnet.

Have a great weekend, Eamonn will be back to start the new week.

This article was written by Adam Button at www.forexlive.com.

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