- U.S. and U.K. closed for public holidays
- U.S. equity futures slightly firmer, gold, oil and currencies little changed
- Quiet session expected in Asia with little data slated
Bias: Risk on
U.S. stocks were closed overnight for Memorial Day, which saw quiet trade in equities across the globe. U.S. Index futures are open however and are slightly firmer. European stocks were better amid firmer than expected German IFO numbers and on declining Corona Virus rates in Europe.
Forex players largely sat on their hands overnight, with holidays in the U.S. and the U.K. A slight bias change to “risk on” saw the AUD, NZD and CAD all outperform on the day, although volumes were light. Traders are also expecting further economic stimulus out of Europe.
Gold prices were slightly weaker in Europe as traders switched out of gold positions amid the current “risk on” posture. Crude oil was little changed.
Expect a quiet session in Asia today, with local players coming in after U.S. and U.K. holidays and with a lack of fresh incentives, The data calendar is also light today, with little more than Japanese All Industries Activity numbers slated.