Asian bourses begin the session higher as the region takes impetus from the positive handover from Wall Street, where the tech sector outperformed amid a risk-on price action following a decline in US Treasury yields. rebound in cryptocurrencies after Tesla‘s CEO Elon Musk said that North American Bitcoin miners are committed to publishing current and planned renewable usage.”
In New York, stocks were higher across the board on Monday, with the major indices gaining support from a recovery in the cryptocurrencies space today. Traders are still paying attention to the complex regarding commodity price expectations s it was taking a knock; China further makes an effort to stamp on “manipulation” and Fed’s tapering expectations post-FOMC Minutes. Worth noting that the COVID situation in India is somewhat improving, but Japan is still facing acute pressure from the virus. The week ahead, the major data points that the market will be paying attention to are the US Durable Goods and Personal Consumption Expenditures Price Index, which could give more support to an early than expected quantitative easing tapering from the Fed. Month-end flows are in play during the coming sessions.
