- Gold hits a new historical high of $1,945.26/oz
- US stocks rise, led by high techs
- USD weaker overnight, the Euro outperforms
Bias: Risk neutral
U.S. stocks snapped a two-day losing streak overnight, supported by bargain hunting in techs. Also supporting was expectations for another round of Corona Virus inspired stimulus. Volumes however were light ahead of earnings from Google, Facebook, Amazon and Apple this week. Moderna shares also rose after announcing it had received further Government funding for its virus vaccine.
The Big Dollar remained on the nose overnight, weakening against all the majors. Switching into the Euro saw it outperform the G7 currencies on the day. Commodity currencies also did well amid firmer commodities and equities.
Oil prices were again firmer, while Gold posted a new record high of $1,945.26/oz.
Expect the same grinding like trade in Asia today as yesterday, with gold expected to continue to capture interest. The data calendar today is light with little more than Spanish Unemployment and U.S. Consumer Confidence due for release.