Today is a day of greater risk appetite as investors bet on more accommodative monetary and fiscal policies on a global scale, also motivated by signs of progress in a coronavirus vaccine and easing trade tensions between the US and China.
The dollar is rising on today’s Asian session, as the improving global economy and the lack of progress in U.S. fiscal stimulus weigh on this currency.
As longer-term Treasuries retreated on Friday after investors processed data from the U.S. economy following the Federal Reserve's historic change of direction in the monetary policy framework.
The focus of the oil market remains the pace of the short-term global economic recovery and supply/demand dynamics, adding that short-term risks should still be tilted to the downside.
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