The Aussie, Stocks, and Oil continue to confound the negativity surrounding them as all three markets pushed higher. That tells you much about this markets psyche and while none of these markets feel ripe for another huge leg higher the topside pressure remains.
The Yen is still strong, Euro dipped after Mario Draghi, the AUD is under pressure and Stocks pressed higher as they climb a wall of worry suggesting that the market doesn't need to go too much further to drag money off the sidelines. Now for non-farm payrolls.
It was a big night for traders. Crude and stocks dipped before recovering, the US dollar was weaker against the Euro and the Yen but the Aussie dollar lagged as traders bet the GDP won't stop the RBA cutting again. Copper was lower too as Chinese PMI's reminded all that growth still looks weak.
Forex markets are at some interesting levels with Euro and Sterling near important support and the AUDUSD rallying from a rounded bottom. Stocks pulled back from range highs and oil is lower. It makes for interesting set ups as the data deluge begins today.
Don't be fooled. It was a quiet night but that doesn't mean nothing is happening. USDJPY is headed higher, gold dipped below $1200 and ounce and copper dipped again.
It's a huge week for markets as they grapple with a data deluge and confirmation from Fed chair Janet Yellen that it is appropriate that rates in the US rise soon.
Add in a number of markets resting on or near important levels and you have plenty of events and opportunities for traders.