Australian Dollar Soars on Stellar Employment Data

Moving to the North American continent, today's agenda features unemployment claims and the Philly Fed Manufacturing Index, both hailing from the US. Speaking of the US, the American dollar experienced a resurgence yesterday, establishing itself as the day's top currency performer, with the Canadian dollar closely following in second place. As the European trading hours commence, the dollar remains relatively stable, potentially hinting at an extension of this corrective phase throughout the day.

Over to equities - Wall Street continues its bullish run unabated. The S&P 500, Dow Jones, and Nasdaq all achieved new mid-term highs in the previous session, underscoring the optimism prevalent in the US markets. Their European counterparts, however, display a hint of vulnerability. A case in point is the German DAX, which presented a 'shooting star' candlestick pattern in yesterday's session, suggesting that a corrective phase might be on the horizon.

In the realm of currencies, the Japanese yen, which had been on a strengthening spree in recent days, seems to be losing steam today, indicating that a correction could be in the offing.

Lastly, commodities maintain their upward trajectory. The limelight is notably on precious metals, which are sending out clear buy signals, highlighting their current market allure.