Equities and commodities surged higher overnight led by the Dow, S&P and Nasdaq which all finished the session up by around 1.25%, while energy commodities such as gas and oil gained as much as 4% (brent crude).
The Aussie dollar which fell to as low 0.7300 yesterday morning vs. the Greenback also recovered some ground as iron ore prices moderated and optimism returned to markets. AUD/GBP and AUD/EUR also finally posted a positive session holding above 0.5100 and 0.6400 respectively.
Ahead today is a financial stability report from our Kiwi neighbors along with U.K manufacturing production data tonight. U.K manufacturing is tipped to have rebounded in the latest reading to 0.4% following a disastrous -1.1% the month previous.
DATA RELEASES TODAY:
GBP – Manufacturing Production at 6.30pm
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