Under the hood, raw materials ranging from Silver, platinum and Copper have priced in extreme scarcity over the last months, TDS' Senior Commodity Strategist Daniel Ghali notes.
New Zealand Dollar (NZD) is likely to consolidate between 0.6040 and 0.6080 against US Dollar (USD). In the longer run, NZD is likely to test the 0.6090 level; it is too early to determine if it can break clearly above this level, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Pound Sterling (GBP) is expected to trade in a sideways range of 1.3670/1.3750 against US Dollar (USD). In the longer run, outlook remains positive but GBP may consolidate for a couple of days first; the next technical objective is 1.3800, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.