In Asia, Japanese equities look set to extend gains at the open after the Nikkei 225 touched a 21-year high in the last session. Nikkei futures traded in Chicago were up 0.59 percent at 21,280 and Osaka futures were 0.31 percent higher at 21,220. Down Under, the S&P/ASX 200 rose 0.46 percent in early morning trade.
Traders are expecting data on Chinese inflation at 4:30a.m. as this will give the tone of the session. Better than expected data will support global indices and strengthen the positions of the world's 2nd largest economy. On the other hand, lower data than expected will be negative for risky assets (stocks, indices), as well as for closely related Chinese economies - Australia and New Zealand.
Oil prices surged on Friday as markets cheered robust China import data and. Brent crude rose 1.6 percent to settle at $57.17 a barrel and West Texas Intermediate advanced 1.7 percent to settle at $51.45.
The dollar initially slid following the lackluster data release, but later recouped losses. The dollar index, which tracks the greenback against a basket of six currencies, stood at 93.144 by 6:48 a.m. HK/SIN, above a low of 92.749 seen on Friday.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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