There was a collective rally on global markets overnight, as investors reacted positively to the latest developments in the US.
Wall Street was in risk on mode from the outset after data showed US industrial production growing more than expected in March.
Fed Chair, Janet Yellen, contributed to the positive vibe after she warned continued anaemic growth in US jobs will keep the central bank accommodative “for some time” to come.
There were only minor moves in commodities like gold and oil. Copper put on a solid gain after yesterday’s data showed China’s first quarter economic growth exceeded estimates.
The better-than-expected US industrial production data had little impact on the greenback, which was more-or-less flat against a number of its major rivals.