The Rise In Commodity Prices Has Gave Support To The Antipodeans Currencies
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Asian stock markets closed mixed as investors prepared ahead of the company’s report this week.

The ASX 200 (+ 0.4%) was driven by gains in the energy sector following a surge in crude oil prices, while the soaring Telstra index chose it to partner with the Australian government for Digicel Pacific’s demand for USD 1.6 billion in consumption deals, of which Telstra used only USD 270 million.

The Nikkei 225 (-0.9%) was weighed down by falls in shares of Softbank and Fast Retailing.

Hang Seng (+ 0.1%), and Shanghai Composite (+ 0.4%) backed by an injection of CNY 190 billion from PBoC, meanwhile, the Hang Seng Mainland Real Estate Index fell 2.9%, weighed down by China’s State Council report on more property tax reform trials area.


WTI crude futures jumped to $ 84 a barrel on Monday, surpassing a 7-year high, as global supply constraints amid demand for some countries are gradually recovering some of the COVID-19 pandemics.

Over the weekend, the Saudi Energy Minister said that OPEC+ should always be cautious in managing global crude oil supplies. That view has been supported by Nigeria and Azerbaijan.

Gold prices traded near the $ 1,800 level on Monday, as high inflationary pressures and a weaker dollar overcame concerns over rising yields.


The US dollar traded below the 94.00 level Fed Chairman Jerome Powell confirmed last week that the central bank chose to do Tapering but insisted that it was not yet time to raise interest rates.

Next, AUD/USD recovered above the 0.74800 level, rising in oil prices, and metals including gold, silver, and copper. Previously, Fitch Solutions had devalued the AUD, which raised concerns over China’s growth prospects and its impact on the Australian mining sector.

Meanwhile, NZD/USD traded around the 0.71600 level amid the prospect of rising interest rates by 50 RBNZ basis points in the upcoming meeting.

Finally, the Pound remains weak amid recent discussions on the Northern Ireland Protocol