FX Trends At Asia Open: EMFX Among The Best Performers
Batur Asmazoglu | Mar 02, 2016 02:32AM ET
The risk rally of the last few days is still pushing on. Commodities and commodity related currencies lead the charge, with AUD and CAD trending strongly. EMFX follows them, mainly with EURXXX crosses. RUB, KZT, PLN and MXN are among the best performers.
USD is trying to make a comeback and recover some lost ground before the payroll data on Friday. Recovering global risk appetite has pushed USD yields higher along the curve, but the very short end has gone highest. It seems we could get some USD strength back in the market. Risk should stay well supported over all.
Gold has been stuck around 1250s and has turned bearish today. If the USD rally pushed through resistances, we could see gold pull back.
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