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The S&P 500 headed for record closing highs, building on gains from last week after a similar vaccine-related update from Pfizer Inc brightened the economic outlook and sparked a rotation into cyclical and value shares.

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Our information/charts are NOT buy/sell recommendations. Are strictly provided for educational purposes only. As always ,trade at your own risk and analysis.
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Contact our advisors through website chat 24/7.

While the pair's latest upside comes from the upbeat comments from RBNZ Assistant Governor Christian Hawkesby. The policymaker rekindled the New Zealand central bank's cautious optimism while expecting economic recovery and citing need for less stimulus.
Be it the refrain from entertaining the chatters for negative rates, at least for now, or hopes of economic recovery, yesterday’s updates from the Reserve Bank of New Zealand (RBNZ) pleased NZD bulls. The mood also got confirmations from the coronavirus (COVID-19) conditions at home, unlike those from the US and Europe.

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GBP/JPY wobbles around the intraday high near 138.93, up 0.7% on a day, amid Monday’s Asian trading. Even if the Japanese markets are off, the risk-on mood favors the pair to probe the one week high.

Among the positive catalysts, Brexit optimism and the UK’s intention to ease the coronavirus (COVID-19) lockdown measures, coupled with the vaccine hopes, gain major attention. Also supporting the mood could be hints of further stimulus from the Japanese Prime Minister (PM) Yoshihide Suga.

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