US equity markets continued to bubble around record historical highs, supported by a strong earnings season and mass liquidity. US Consumer Confidence bounced back, while the Richmond Fed Manufacturing Index was positive. The S&P Case Shiller Home Price Index was lower than expected, coming in at 0.9%, but remained up nearly 20% for the year. The EUR slipped back below 1.1600, while the Yen fell back to 114.10.
Crude Oil prices continued to rise, breaking above USD$84/barrel. Commodity prices remain bid and the associated currencies have been supported, with the AUD hitting 0.7500, while the NZD looks to regain 0.7150. Look for market reaction to the ECB and Bank of Japan monetary policy decisions to impact, especially through the changing narrative. Inflation and growth remain key to US markets.