The risk rally of the last few days is still pushing on, commodities and commodity related currencies lead the charge with AUD and CAD trending strongly. EMFX follows them, mainly with EURXXX crosses. RUB,KZT,PLN and MXN are among the best performers. USD is trying to make a come back and recover some lost ground before the payroll data on Friday. Recovering global risk apetite has pushed USD yields higher along teh curve but the very short end has gone higher the most. It seems we could get some USD strength back in the market, risk shoudl stay well supported oveall. Gold has been stuck around 1250's and has turned bearish today, if the USD rally pushed through resistances we could see gold pull back.
