are a tad lower after the robust close overnight. Still, FX markets are almost unaffected after the China Iron ore headlines. Most risk markets are holding steadfast as the much-awaited NPC meeting is expected to set a more unequivocal easing policy stance for the rest of the year
Even although trade tension appeared to rise again today, there is this overall shift to diminishing risk aversion in the context of growing optimism around economies opening-up
The remains on the front foot, as risk-positive weakness combined with optimism about a Franco-German EU recovery fund proposal adds to the support.
price action has been somewhat choppier, but minor base building price action seems to be emerging as participants mull the normalization trade.
In addition to the super bullish than consensus draw in the , investors are taking note that while India’s fuel consumption collapsed as much as 70% at one point in April and is now about 40% below 2019 levels…