Risk rally continues, the real gainers here are commodities and commodity currencies. AUD, NZD and CAD are best gainers. They are followed by Emerging Markets currencies ZAR, TRY, MXN and alike. Asian currency rally has slowed down a bit along with the equity rally. GBP has stabilized with rates climbing higher following US rates, European interest rates have stalled but are not really rising. Not much anyway ahead of the ECB meeting but tension is surely building there. This time they do have to deliver. We might see an intraday correction in the trends however, there is no apparent reason for a change of direction.
