- Yet another fresh all time high for gold
- Currencies and stocks largely quiet Friday
- U.S. Michigan Sentiment Index soft at 72.5
Bias: Risk neutral
Stocks opened on the offer on Friday, weighed by the high-tech rout on Thursday and a soft Michigan Sentiment Index, before catching a late session bounce in line with short-covering and position adjustment ahead of the weekend seen as the dominant flow.
Currencies largely held ranges on Friday, with traders noting little impetus to push prices. Sterling underperformed on the session, with most players still concerned about the Brexit deadline. Today sees and Australian Bank holiday, which should hurt early volumes.
Gold posted a fresh all time high, while oil prices were also firmer on the day.
With today being the first trading day of the week and the quarter, expect quiet flows in Asia today, which will be compounded by the Australian bank holiday. Data today sees Japanese GDP and PMI, Chinese Caixin PMI, European PMI’s this afternoon and U.S. PMI tonight.