Asia equities are trading positive, followed by the tailwinds seen on Wall Street, whereby the S&P500 and Dow Jones both notched fresh all-time highs. The Nikkei 225 is up 1.8%, outperforming following the prior session’s underperformance as the Yen trading lower on the session.
Traders will be watching the commodity markets as reports note that China’s State Planner studies ways to stabilise coal prices over the longer term. On the data front, there isn’t anything tier 1 risk on the radar for the session ahead, with participants very much looking ahead to the Advanced Q3 US GDP data on Thursday, alongside the European Central Bank and Bank of Japan meetings. Traders will also be trading the last week of the month. Technical positioning will be driving the price action this week. The Fed are in their policy blackout ahead of next week’s meeting, which could be their first bond tapering announcement.
