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JPY

Cycle Highs In Sight For USD/JPY

AUD

Outlook Remains Bearish

JGB TECHS

(U1) Tilted Higher

AUSSIE BONDS

Local Risk Eyed

COMMODITIES

Both WTI and Brent crude futures trade higher, with gains of just over 2% apiece, hitting new cycle highs and the best levels since late January last year.

Oil gains come on the back of a weaker greenback this morning and are extending the Monday recovery, running in parallel with global equity markets. Next hurdles for WTI and Brent rest at round number resistance of $55/bbl and the 76.4% retracement of the Jan - Apr 2020 sell-off at $58.59 respectively.

After Silver's winning streak Monday, prices have (more than) levelled off, pulling away from yesterday's highs by as much as 9%. This deflates the bullish argument, with a close below Friday's highs of $27.65 working further against the upside case.