Global economic psychology has improved, partly because of easing tensions in the Black Sea region but also because of generally positive US scheduled data flows.
Prospects for strong supplies prompted cotton futures to slip in value on Thursday, one day after falling into a bear market, according to Bloomberg.
Confidence about strong global supplies prompted wheat futures to bounce back from their lowest level in more than 90 days on Wednesday, according to Bloomberg.
Macroeconomic recovery prospects were improved by the actions of the ECB last week, even if the action was months and perhaps years late in coming.
The list of positive global data flows expanded last week with improvements in UK Unemployment, China Retail Sales, and US February and March Industrial Production figures.
The dollars of Australia and New Zealand are likely to drop in value against the world’s reserve currency as the year proceeds as the U.S. economy continues its recovery, according to Bloomberg.
The dollars of New Zealand and Australia were pushing toward sharp monthly gains against the world’s reserve currency on Friday as confidence mounted about stronger economic times ahead in both nations, according to Bloomberg.
The monetary unit of the Philippines was driving toward its third consecutive weekly advance against the U.S. dollar on Friday in the aftermath of the central bank noting it stands prepared to intervene, Bloomberg reports.
The Australian dollar advanced to its four-week high against the world’s reserve currency on Tuesday, benefiting from homes prices climbing higher, according to Bloomberg.
The globe’s third-largest shipper of cotton is likely to reduce the amount of the soft fiber it produces this year due to inclement weather, according to Bloomberg.