Fears around Omicron seem to ease, while sentiment was also helped by improved data from Japan. In particular, preliminary Industrial Production for November rose 7.2% m/m vs 4.8% m/m expected, 1.8% prior.
Main Asia-Pacific stock markets tracked Wall Street higher, with Australia still out. European futures are cautious and UK markets will remain closed today.
The US Dollar is mixed, the JPY Basket stays on the defensive, while the Australian dollar is upbeat against both.
EUR/USD shows indecision above 1.1300.
GBP/USD is tepid and capped by 1.3450.
USD/JPY consolidates below 114.50, but managed to clinch fresh month highs at the start of the day.
USD/CAD lacks form direction, trading around 1.2800.
AUD/USD remains supported following the solid start to the week, but stays below 0.7250.
NZD/USD shows indecision above 0.6800.
GER30 trades with caution, having rejected 15,900 during yesterday's rise.
SPX500 faces headwinds, just shy off Monday's record highs (4797).
USOIL is soft above 75.50, after yesterday's solid performance.
Economic Calendar Picks (GMT)
Another data-data light day, with Oil traders awaiting US API Stockpiles.
See the economic calendar here.
Senior Market Specialist
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.
With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.