Morning Bid: Green light from financial conditions, FX calm
Investor sentiment in Asia is set to open the week on a positive note on Monday, buoyed by last week's upward momentum in global stocks, calmer currency markets, and a general easing of financial conditions.
U.S. earnings have, on the whole, been strong and company guidance generally bullish, the Fed appears reluctant to raise rates again and signs of softer economic data are keeping hopes of rate cuts this year alive. The dollar plunged almost 5% against the yen last week on the back of two suspected bouts of intervention from Japan, one on Monday and one on Wednesday.
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