Wall Street managed another positive session as traders await the key US CPI print tonight that will hopefully clear up the uncertainty around the Fed’s direction after Friday nights low US jobs report upset the apple cart. European markets also provided more upside direction with Asian stocks expected to follow suit here this morning.
Currencies continue to bet that US inflation will undershoot with USD still on the outer with Euro hitting a new monthly high and Pound Sterling extending its new yearly high while the Australian dollar almost managed to break above the 67 cent level.
US bond markets saw more divergence across the yield curve with the 10 year pulling back below the 4% level as the 2 year lifted, while oil prices put in a new high with Brent crude lifting more than 2% to finish above the $79USD per barrel level for a new monthly high. Gold bounced back as well but still looks somewhat weak at the $1930USD per ounce level.
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