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The dollar and yen are the laggards on the day as risk keeps in a better spot to start the new week, following the more solid close in Wall Street on Friday.
US markets are closed today but the market is pretty much keeping with the same themes from last week for the most part, as we saw Treasury yields claim some key levels with 10-year yields above 1.20% and 30-year yields above 2.00%.
GBP/USD is keeping with its upwards trajectory towards 1.4000 as price lingers close to 1.3900 while EUR/USD is nearing a test of last week’s highs of 1.2144-49.
Meanwhile, AUD/JPY – one of the key risk barometers in the market – is pushing higher to 81.82 and hitting its highest levels since December 2018 as the breakout gathers pace.
Elsewhere, oil is keeping its good form with WTI breaking above $60 with over 2% gains to start the new week so far. The 100-month moving average @ $62.30 will be a key level to watch in trading this week that might keep a lid on gains.
Looking over to precious metals, gold is struggling below its 200-hour moving average but keeping above $1,800 at least while silver has kept a modest rebound to $27.50 but last week’s highs are still keeping gains in check for the moment.
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