Risk assets are enjoying a good start to the day/week
Asian equities are faring well on the day with the Hang Seng index leading gains up by 1.6% currently. The Nikkei is also trading up by 0.7% and that's helping to lift sentiment a little bit more despite mainland Chinese equities being up by only 0.1%.
However, E-minis are still slowly tracking higher and is up by 0.6% at the moment. That is helping to keep yen pairs underpinned and sees USD/JPY hold near the highs at 113.25 currently as we move towards European trading.
The positive tone in markets is helping to also keep a bid in the aussie and kiwi. Meanwhile, the loonie is benefiting from a slight rebound in oil prices:
The rout in oil looks to have reached a relief level at $50 and WTI is up by nearly 1% today, helping to underpin the loonie. Plenty of focus will turn towards the OPEC+ meeting in Vienna on 6 December but unless producers commit to a significant output cut, it'll be yet another slippery slope for oil once the $50 psychological handle breaks.
