Markets are dominated by significant new highs in the precious metals Gold and Silver, and in the industrial metal Copper.
- Precious metals have risen strongly to new highs, although the past few hours have seen Gold and Silver give back some of their gains. Gold has reached a new record high at $2450 while Silver has reached a new 11-year high at $32.50. Both will be interesting to trend traders today on the long side.
- The industrial metal Copper has also reached a new record high, and trend traders will be interested here too. If Copper futures are too big for you, or your broker does not offer a Copper CFD, there is a Copper ETF called Copper.
- Global stock markets are bullish, with the MSCI World Index rising for a seventh consecutive session. In the USA, both the NASDAQ 100 Index and the S&P 500 Index are not far from their recent record highs. The major Chinese Index the HSI is continuing to climb to new 9-month highs. Long stocks can be interesting to trend traders and day traders alike right now.
- The 10-year yield on Japanese Government debt just reached its highest level in 11 years, suggesting that markets are expecting a normalisation of rates by the Bank of Japan in the foreseeable future. This could be bullish for the Japanese Yen,
- In the Forex market, since the Tokyo open, the strongest major currency is the Euro, while the New Zealand Dollar is the weakest.
- Today is a public holiday in Germany, France, Canada, and Switzerland.
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