The Markets are set for small but positive open, after the rally on Wall Street. The US Indices reached their previous highs and are at horizontal resistance, but the sentiment is positive and they can break up and continue going up. The indices were supported by the jump of the Banking stocks and the price of oil.
The price of Oil was higher again, reaching its previous highs and its trading around $42 per barrel. The last data for Oil reserves where negative coming in at +6.6M barrels in reserves, but the price jumped up and that helped stocks. AUD and NZD are also going higher helped by better risk apetite. Expected data from Australia - Employment change and Unemployment rate and we expect high volatility across all of the AUD crosses.
The futures of the Australian SPI were up with 0.8% at 5,075 and the futures on the Nikkei were up 0.09% at 16,670.
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