Asian futures were little changed in early trading after progress in vaccine distribution and a large U.S. stimulus program sent two major Wall Street indexes to record closing highs.
Analysis of key markets.
The dollar traded near its strongest in more than two months against the euro and the yen on Thursday as pessimism about the U.S. economic outlook receded before the release of important data on the jobs market.
Oil prices extended gains on Thursday after the OPEC+ alliance of major producers stuck to a reduced output policy, and as crude stockpiles in the United States fell to their lowest levels since March last year.
A quick reminder of what happened in the markets yesterday.
If there is a negative correlation between markets, it means one of the
markets’ price will go up, while the other will likely drop. When you trade
each of these assets, you might succeed in any market, by avoiding the steep
climbs and large dips expected with a single market type. In the same way,
positively correlated markets could enable you to profit from both markets if
the price moves in the direction that you speculate.