Daily Market Commentary 26th October 2021

US equities continued to bounce around record historical highs, pushed by record liquidity sloshing around markets and the lack of global economic data releases. The German Ifo Business Climate reports continued to operate in a negative environments, while the Chicago Fed National Activity Index was also negative. Market will await the ECB and Bank of Japan Central Bank monetary decisions later in the week and growth and inflation data. The EUR dipped back to 1.1600, while the GBP traded around 1.3750, still being impacted by the virus cases and energy crises.

The commodity currencies regained some momentum, with the AUD looking to regain 0.7500, while the NZD looked to push back to 0.7150. The demand for commodities and the energy crises has given new life to the associated currencies. Australian Inflation will be released Wednesday, while NZ Business Confidence will also interest market direction, locally.