Equity futures advanced in Australia, Japan, and Hong Kong following another record close in the US fuelled by a bipartisan $579 billion U.S. infrastructure deal that stoked economic optimism. The Dow Jones index lifted by 1% overnight. The S&P 500 and Nasdaq each rose by 0.6% and 0.7% respectively with energy and financials leading gains.
Treasury yields were flat overnight. US 10-year yields rose by 1 point to 1.49% and short-term US 2-year yields rose by 1 point to near 0.27%.
Forex trading saw little changed against other major currencies. According to ZERO Markets’ Meta Trader 5 platform, the Euro rose from lows near $1.1920 to highs near $1.1955 against the dollar. The Aussie dollar rose from lows near $0.7565 to highs around $0.759 against the dollar at US close.
Commodity trading saw crude oil prices remained elevated. Brent crude rose by 0.5% to near $US75.56 a barrel. WIT gained 0.3% to near $US73.3 a barrel. Traders are awaiting upcoming deliberations among OPEC+ producers that may lead to supply hikes.
Iron ore prices fell 0.8% to near $214.9 a tonne. Precious metals trading saw gold fell 0.4% to near US$1776.6 an ounce.
Key events this week (Economic Calendar):
US Personal Income Spending (Friday)
Zero Markets provide a variety of account types suitable for all types of traders including ECN Account (Super Zero Account), Standard Account, Islamic Account, PAM/MAM, and Pro Trader Account. Start trading with the best-regulated CFD broker – Zero Markets. Enjoy competitive pricing and tight spreads starting from 0.0 pips across more than 60 tradable instruments.